Looking for help/advice on leasing to a local company. Thanks.

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Looking for help/advice on leasing to a local company. Thanks.

John RobertsPro Member
GA · Member since 2022 · 34 posts · 11 votes

Hi, I'm looking for some help on creating a lease agreement for a local company that wants an annual lease on our 2/1 duplex (just one side to start off with). 

They will be housing their executive chefs that they bring in on contract. So there will most likely be different tenants in/out during the year. The lease will be in the company's name and paid by the company. They will be on an annual lease and pay even if they don't have a tenant in the unit. Their rent will be about 1.5x normal rates.

The unit will be furnished and all utilities will be in our name (power, water/sewer, internet). We will also cover lawncare and pest control. 

How do you handle that? 

What do you put in the lease to cover yourself in case of excessive utility bills? 

Do I charge the normal deposit for furnishings and such? Anything for utilities?

Any advice/tips would be greatly appreciated.
Thanks.

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  • Kim Meredith HamptonBusiness Member
    Real Estate Broker · St Petersburg · Member since 2014 · 2k+ posts · 2k+ votes
    1y

    @John Roberts, This is a corporate style lease, and I would have a real estate attorney and/or pm prepare for you. Also an officer of the corporation must sign. There are a lot of caveats and problems that can arise with so many people in and out all the time that have not been vetted! I know it all sounds great, but it just takes one problem for this to turn into a nightmare. Better to be safe than sorry

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  • Brandon RizzoPro Member
    Real Estate Consultant · Austin, TX · Member since 2024 · 53 posts · 8 votes
    1y

    I completely agree with Kim—hiring an attorney to help draft your lease is a smart move! Additionally, I recommend implementing an inventory process to document and track your furnishings. This will help protect your assets and ensure everything is accounted for.

    Be sure to use a move-in condition checklist with your incoming tenant. This creates clarity about the property’s condition both before tenancy begins and after it ends, helping to avoid any disputes.

    Regarding utilities, make sure your lease clearly outlines how utility billing will be handled. Decide upfront whether to include utilities in the rent or bill tenants separately. Also, don’t forget to check your local municipal code for any regulations regarding utility billing to ensure compliance.

    Good luck! Let me know if you have any questions or need further guidance.

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