A Commercial Lease Application is a legally-binding document that is filled out by a prospective tenant who wishes to use the property for business purposes. The application is used by the landlord to obtain information about the potential renter and use the information given for background checks and credit checks. The application aids the landlord in the process of deciding who to rent their commercial property to. It is also used as a protection against false claims that a landlord chose an applicant for improper or discriminatory reasons. While a landlord can customize the application, it is important that some key information is included.
The application will generally ask for information such as:
- If the potential tenant is a corporation, a partnership, or an individual
- The business’ name, address and phone number
- Federal Tax ID number
- With the application, landlords will often request at least 2 years previous tax information. This includes the last 2 annual reports and corporate tax return if the potential client is a corporation. If the prospective tenant is a partnership or an individual the landlord will request the tax returns from at least the last 2 years.
- A description of the intended use of the property
- Current and/or previous landlord’s name, address, and phone number
- The number of parking spaces that will be needed
- The number of employees and projected number of future employees
- A Bank reference, including the name of the bank and account number
- Two or more credit references
- And if there will be any hazardous materials and approximate amounts