Rego Park, NY · Member since 2016 · 11 posts · 3 votes
Hi all, I just bought my first duplex to house hack, I will be living in 1 unit and rent out the other one. I had a protential tenant who wants to live in my second unit, but she wants to rent the apartment under her business name instead of her name. (Her mom and her own a daycare), she does not want to provide bank statements because it’s too “invasive” what other documents do I need to rent to my apartment to a business? Thanks a lot!
Hi all, I just bought my first duplex to house hack, I will be living in 1 unit and rent out the other one. I had a protential tenant who wants to live in my second unit, but she wants to rent the apartment under her business name instead of her name. (Her mom and her own a daycare), she does not want to provide bank statements because it’s too “invasive” what other documents do I need to rent to my apartment to a business? Thanks a lot!
If it's zoned residential which I'd imagine it is you need to only entertain residential tenants. It sounds like this chick may or may not be a residential tenant who just wants to use her company name on the lease though so I suppose that is just some food for thought. If we go with the idea that she is going to live there just as any other residential tenant would & not run her business out of it & only have the lease in her business name the answer to her would still be no.
She likely wants to do the lease in her business name to give her less personal liabilities. Reading between the lines she's probably got a crappy rental history & horrible credit. This is why she's balking at you running a background check & asking for bank statements. You have every right to request these things. Deny this tenant & move on from her & anyone else who acts like her in the future.
Sounds sketchy. I have no idea how you’d event a business from a residential property. And as you said, no way to really do a credit check on the business (easily).
I’d 100% only rent to the person. If they want to cut rent checks from the business for whatever tax purpose, I wouldn’t care, but I’d want to know who (by person) I’m renting to.
@Tom Huang Run a credit / background check on her, same as a normal rental process. I have a few business I rent to (Art Gallery, Yoga studio, etc). One person usually "guarantees it", so I look to their personal financials just like renting to a person. I would still ask for bank statements, you still need to see if they qualify: income / DTI -wise.
Hi all, I just bought my first duplex to house hack, I will be living in 1 unit and rent out the other one. I had a protential tenant who wants to live in my second unit, but she wants to rent the apartment under her business name instead of her name. (Her mom and her own a daycare), she does not want to provide bank statements because it’s too “invasive” what other documents do I need to rent to my apartment to a business? Thanks a lot!
If it's zoned residential which I'd imagine it is you need to only entertain residential tenants. It sounds like this chick may or may not be a residential tenant who just wants to use her company name on the lease though so I suppose that is just some food for thought. If we go with the idea that she is going to live there just as any other residential tenant would & not run her business out of it & only have the lease in her business name the answer to her would still be no.
She likely wants to do the lease in her business name to give her less personal liabilities. Reading between the lines she's probably got a crappy rental history & horrible credit. This is why she's balking at you running a background check & asking for bank statements. You have every right to request these things. Deny this tenant & move on from her & anyone else who acts like her in the future.