Co-applicants - commercial (retail) lease - who should sign?

Co-applicants - commercial (retail) lease - who should sign?

Oxnard, CA · Member since 2015 · 12 posts · 0 votes

A woman wants to lease a retail unit in a building I manage. She will be running the business exclusively. However, She said that she's building up her credit and that only her husband will be signing the lease. I ran a background check on the husband, which was satisfactory. Should I require her to undergo a background check and to sign the lease as well? My feeling that everyone who has an ownership interest in the business must sign the lease. Thoughts?

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  • Tampa, FL · Member since 2018 · 60 posts · 47 votes
    7y

    Definitely both of them. Especially if she will be running the business exclusively. 

  • Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes
    7y

    Commercial property default is higher than residential; sign everyone you can get your hands on to a Commercial Lease.

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