Apr
07
Financial statements necessary to sign commercial lease?
By
My husband and I are starting a small local business. We’ve begun looking into commercial spaces that are available for lease, and the broker I contacted notified me that, because we’ll be taking care of all expenses out of pocket, whomever we rent from will in all likelihood want to see our financial statements. I realize that the landlord will of course want proof that we’re financially stable enough to start this business, however I was curious as to whether this is fairly standard procedure? Any replies are greatly appreciated.
Repossession
Related articles:
- I sign a commercial lease which has 9 years to run at £11,000 PA I assigned it to others who have since gone ? bankrupt the landlord is asking me to pay the rent I dont have it. What I want to do is borrow one sum to pay him off what would...
- what happens if you sign a 5 year lease and you break it? Hi, I just started a business and it seems it might not make it. I signed a 5 year lease with this shopping center. What happens if my business...
- What is my rights if my lease expired and landlord ask to sign a new lease or vacate the shop within one month After my lease expired and I did not renew it. The landlord ask me to sign a new lease at much higher price or vacate the shop within one...
- Can you tell me how I can break a lease in Naperville,because my job downsized and my car is gone out? I have a 1 year lease on a apartment in Naperville.I My job downsized and I’ve been looking for work. I have a potential job offer scheduled to start...
- Financial Forecast for Your London Commercial Property In this time of restless global finance there are many reasons why the purchase of commercial property is not a favourable option. And in any such market the time...
1 Comments
June 19th, 2009 at 4:47 am
YES! They need to make sure that you are stable and can pay the rent. When renting you must always provide proof of income, no matter if it is for residential or commercial.
This is all standard stuff.