Commercial Tenant Screening Services and looking for consulting [WA - State]
Hi,

I have been very lucky to have the same tenants for nearly 20 years in my warehouse/manufacturing space. One of my tenants is selling his business (asset sale) and they are 1 year into a 10 year lease for 15k sq ft of manufacturing space. Not a problem but since this is a new company, I need to have them vetted. Does anyone have recommendations for a screening service?

I'm also interested in hiring a consultant to review my leases and advise on this circumstance. I can do over email/zoom and happy to pay a reasonable rate :) I would prefer a local person but not a dealbreaker.

Thanks!
[{"id": "gxvl5b5", "text": "I can help with both! Check out my website at www.northwoodscre.com and shoot me an email using the Contact Us page if you're interested.", "replies": [{"id": "gxvqjrt", "text": "I scheduled a presentation with you for tomorrow at 9. Thanks for responding!", "replies": [], "depth": 2}], "depth": 1}, {"id": "gxvrgzx", "text": "I shot you a PM.", "replies": [], "depth": 1}, {"id": "gxvu5t4", "text": "I would certainly suggest you use someone local as each State may have different laws/regulations. I would look at commercial brokerages signs in your area and reach out to those agents and setup an appointment with them to see if they are a good fit to work with.", "replies": [{"id": "gxwgwhw", "text": "Tried on many occasions. They only want to take on properties that they will market and lease. \n\nNot what I\u2019m looking for at this moment.", "replies": [{"id": "gxx3yvj", "text": "I use [tenantbackgroundsearch.com](https://tenantbackgroundsearch.com) for my clients down here in CA. As far as leases go, you may be able to find a broker who will do them on a fee basis (for example, I just did a Lease for a landlord for $500 flat fee with no representation of either party). You could also find an attorney to draft them for you on a fee basis.", "replies": [{"id": "gxzrkto", "text": "My lease should be solid, it's been reviewed by our attorney. \n\nSeriously though, the brokers around here want nothing to do with a lease they don't do themselves and they want a huge fee. I get the; go kick rocks feeling everytime I ask.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gxw2nkx", "text": "Any reason not to hire a lawyer? I may be plugging my own industry but we review hundreds of industrial leases and do abstracts etc. \n\nFlat fees too.", "replies": [{"id": "gxzra09", "text": "As far as my lease goes, I think it's decent. Reviewed by my attorney but I did keep it somewhat light as this tenant initially started as a single page lease.... When I took over the property it's just been tons of hesitation but, I wanted them as they are extremely low impact and always paid with zero issues. When I say low impact I mean 4 employees for 20k sq ft and only 2 trucks in an out per 6am-3pm. Pretty much a dream tenant. \n\nWhat I really need is someone to tell me I'm making a bad decision accepting a landlord waiver but, this judgement needs to consider the current market circumstances which is something my attorney doesn't do. I also need to know what to ask for in exchange for the risk of the waiver but I still need to be in market rates of course. \n\nIf you guys are local or knowledgeable and can handle this, please let me know. Thanks!", "replies": [], "depth": 2}], "depth": 1}, {"id": "gxw7niu", "text": "This is one of those weird things where a broker, a cpa, or a lawyer all kind of do it but they maybe don't do it exactly the same way.  \n\nA broker can run the guarantors credit typically and give you some opinions on their business and personal financial statements.  They can also tell you about whats going on in your market.\n\nA lawyer can tell you if things look reasonable and tell you more about how likely you are to chase them down if they default and advise on that side (and presumably your options to accept them and how your existing lease covers this circumstance).\n\nA CPA can tell you the most about the tenant's business strength as far as their finances.\n\nFor a very large deal you could use all three.  It really depends on what your specific concerns are.", "replies": [{"id": "gxzqbdq", "text": "This really hits the nail on the head. \n\nMy lawyer is great but he's limited in how he can help me. He may tell me signing a Landlord Waiver is insane for but he wouldn't know how common it is in the market and be able to advise me. \n\nI tried to reach out to a broker on a few occasions and the only way they were willing to be involved is to have an agent lease the property for me. I'm just not looking for that at this stage, although I probably will be once this current lease is handled as I have a brand new building upcoming for lease.", "replies": [], "depth": 2}], "depth": 1}]