New car dealership trying to rent industrial space?
Hey guys,

I’m a residential real estate agent in Oregon, but have no clue how the commercial side of things work.

Aside from real estate, I’m opening up a pre-owned car dealership and found a “warehouse” that would be great to start out and lease.

The monthly lease is $3000, that doesn’t include NNN.

What is the process for being approved? This is a new business so I don’t have proof of income for the car dealership.

I have cash saved up obviously, and monthly income. What do you suggest having set aside for a lease of that cost?

Any help would be appreciated.
[{"id": "g8mpke2", "text": "Have you spoken with the LL's rep? In my experience as an LL rep in Texas, in this situation, most Landlords would want to run a credit check on the Tenant principals (you), and may require you to sign a personal guaranty. This is an addendum to the contract which says that if the Tenant entity (car dealership) defaults, you personally will guarantee that the lease will continue to get paid for the duration of the lease term. \n\nThe LL may also want to see proof of funds to cover several the lease rate for a few months, to make sure that they don't have to start chasing rent on Month 2. If you have a high credit score, that will help. Don't be surprised if they ask to see a bank statement or two as well.", "replies": [{"id": "g8nq5pr", "text": "Thank you. This helps me a ton!", "replies": [], "depth": 2}], "depth": 1}, {"id": "g8n34n4", "text": "Also, make sure the space is zoned for your type of business. A warehouse will most likely be in an industrial zone and certain types of retailers aren't allowed. I'm currently in a very similar situation except with used boats and I'm not allowed to sell them at the warehouse where I keep them. In my situation it's no big deal because they get trailered around, but you'd hate to be locked in a year or two (or three or five) and find out the city's not going to allow it.", "replies": [], "depth": 1}]