If landlord ask tenant about economics what does tenant need to supply?
[deleted]
[{"id": "gtuqs12", "text": "probably a P&amp;L/Operating statement for the previous calendar year (2020) and year-to-date 2021", "replies": [{"id": "gtuumh6", "text": "Also a balance sheet would be helpful", "replies": [], "depth": 2}], "depth": 1}, {"id": "gturtq0", "text": "If TT has been operating a business for a while, LL will most likely want at a minimum:\n\n\\- Business tax returns\n\n\\- Audited financial statements\n\n\\- Current/historical operating statements\n\n\\- May want personal tax returns/financial statement\n\n&amp;#x200B;\n\nIf TT is starting a new business, LL will most likely want to see at a minimum:\n\n\\- Business plan\n\n\\- Personal tax returns\n\n\\- Personal financials (showing cash/investments/loans/etc)\n\nEither way, good LL will run a credit check.", "replies": [], "depth": 1}, {"id": "gtuul9g", "text": "It is a waste of your time to show a tenant around with bad/no credit especially if this is their first biz. Unless it was a close friend, I would not waste my time chasing a small lease. Also, you are risking your reputation with landlords if you bring around a low-quality tenant. As a new agent, the best thing you can do for yourself is secure a listing.", "replies": [], "depth": 1}, {"id": "gtv2i19", "text": "Are you a residential Realtor trying to help your relative out with a commercial lease? If so you might be better off to refer to someone with more experience. \n\nAround here prior to reviewing the lease, the tenant's agent sends a non-binding letter of intent that sets out tenant's desired terms, improvements, etc.  if landlord is interested then their leasing agent responds and often substantially modifies it.  If there is a meeting of the minds the LANDLORD usually drafts the lease and it is rarely favorable to the tenant. \n\nDoes your relative with a new biz really understand what a NNN lease is? If not, be sure to really explain it, and also for a new biz without strong existing financials the tenant is often required to pledge personal assets. \n\nThis year on the commercial side is very different from all prior years due to the pandemic, so be careful and don't get in over your head.", "replies": [], "depth": 1}]