Corporate leasing

15 Replies

Okey dokie! Just got an email asking if my property will honor corporate leasing.

I have only lease to single family in the past.

What do I need to expect from a corporate lease? What questions should I be asking? Do they generally expect a furnished home?

Thank you ya!

Have no idea about your property accepting a C-L but your answer should be no. Residential falls under different regulations and tax issues than commercial, you lease needs to be applicable to the property type. :)

are you talking about a company leasing your house for one of their employees? If so I'd jump on that! They pay a premium and if the company is large and we'll established you will have rent always paid on time. Also the tenant takes better care of it because if they don't they have to answer to their employer.

Carol, just type out what the deal is, otherwise we have to guess and pull teeth for the details.

Sounds like a hospital wants to lease for employees, students or families visiting, it could be a very good deal. Explain what you got, You could have a commercial type lease to a corporate entity, best would be having your attorney review what they want. :)

@Bill Gulley undefined

I received an email asking if I would honor a corporate lease. She explained she is a head of some medical department for a hospital and that the hospital will pay for her stay during the year. Is this considered a commercial type lease? sorry, i'm used to renting to single families so I don't know what is expected of me as a corporate lessor. thank you all for your time

Her phrasing that is more like you accepting a corporate lease in that the hospital will be paying the lease, not that the lease agreement will be a commercial property lease. That's great, you use your lease agreement and have the individual tenant sign it and then have the hospital's authorized agent (by the way you need to see the authorization) sign that lease as a guarantor. There is some due diligence in seeing that the agent/representative is authorized to execute a lease on behalf of the corporate entity. If the attorney for the hospital is involved use a dash of common sense if they show you the deal. Still, better to have your attorney check it and ask the hospital to take care of the fee to make the lease.

Someone, even a volunteer at some medical building could contact you, get you to lease to some dead beat, sign off on an unauthorized guarantee and you'd be had. Could happen. Doubtful, but could, so check it out. :)

BTW, that could be great!

Originally posted by @Matthew Paul :
Use a triple net lease , include all lawn care ,snow etc , see if it flies

The tenant would have to be the corporation, to do a NNN as you can't do a residential lease to an individual......well, to say you "can't" means you should not as your lease NNN terms will be tossed out in court and you'll be messed up with your taxes. There are "owner's responsibilities" that you can not transfer to an individual tenant in a residence. :)

Originally posted by @Carol Lee:

Okey dokie! Just got an email asking if my property will honor corporate leasing.

I have only lease to single family in the past.

What do I need to expect from a corporate lease? What questions should I be asking? Do they generally expect a furnished home?

Thank you ya!

 Did you end up leasing to the company as corporate housing? If so, please share your experience. Thanks