Question: Next week I'm meeting with a potential tenant on leasing my commercial building I recently took over. Fairly new at this process need some pointers
what questions should I ask and what are key negotiating points for a lease. What kind of financial documents should I ask for to verify long term viability. Thanks guys 
[{"id": "c9mykkp", "text": "what is your product type? Office, Industrial, Retail?\nyou want to see a company's current balance sheet and at least the last 3 years tax returns.\nYour market will dictate your rents, and dont forget you need to bring something to the table in the form of concessions, ie free rent and tenant improvement allowances\n\nWhere are you located?", "replies": [], "depth": 1}, {"id": "c9ng7ly", "text": "product type is retail. The building is in poor to fair shape, but the tenant is willing to make improvements on the building. Although he wants 5 months free rent. At this point I'm getting bids for repair cost to determine how much to discount the rent. I'm located in Oregon     ", "replies": [{"id": "c9nl6dm", "text": "If it is an established business then check with the state that it's incorporated and in good standing, business tax returns, balance sheet, and google the company. If it's new or if the financials are not that strong you will want personal tax returns and a personal guarantee for the lease rather than just the corporate guarantee.", "replies": [], "depth": 2}], "depth": 1}, {"id": "c9oqm0d", "text": "You'll want to negotiate going dark provisions in the lease if that's not in there already (the specifics of which your lawyers will have to draw up), especially if you have percentage rent. Additionally, a dark unit hurts the other businesses in the center.\n\nFree rent is better than discounted rent. If a tenant asks for reduced rent, offer them free rent on the front end so you can juice your NOI on the back end when you exit the investment.\n\nAlso pretty obvious is to negotiate the expense recoveries. Gun for NNN of course but industrial gross will hedge your opex against inflation. CAM is related to this and should also be negotiated.", "replies": [], "depth": 1}, {"id": "c9pfdwf", "text": "You may have had your meeting already, but as an owner I always look to nail down three things in any lease deal -- lease amount (rent), term (how long), and how much do I have to pay to get them in the door?  The \"pay\" could be free rent, tenant improvements, or other costs.  As others have mentioned, free rent is better than reduced rent since you always want to officially be renting for the highest rent possible.  I wouldn't \"discount\" the rent -- trade free rent for the costs of the repairs.  Otherwise, I'd get a security deposit to protect against non-payment and damage and request financial statements.  You want strong tenants but it doesn't sound like your building is in the shape to be picky, just make sure that you are not laying out any cash up-front to get then in the door (free rent is cashless to you), that way if they walk you haven't spent a bundle expecting them to stay long term.", "replies": [], "depth": 1}]