renting to a corporation

Companies involved with leases usually deal directly with the "landlord". I wouldn't add the company to the lease at her request.

i am currently renting to a corporation.
I put the 2 tenants names on a rider and they need my approval if they want to switch to a different tenant.
In my case, the corporation generates millions in revenue so it was very safe to put it on the lease.

Rented to a General Mills employee. Didn't care if they make billions, we put the applicant's name on lease (just one person), not the company. They were reimbursed by the firm. We like K.I.S.S. theory, but that's just us.

Good Luck

Usually NYC landlords will put the lease in the company name with an officer signing a personal guarantee on the lease. The idea is it can be tricky going after a corporate entity in case of non-payment etc...

Keith Burkhardt
TBG

I rent to people, not corporations. I don't want any more of a rotating door than airbnb already provides for

I rent to corporations and individuals. In the rider of the lease I do what bigmoviebuff does and lists the people allowed in the apartment and require landlord approval for changes. Never had a problem.

"In my case, the corporation generates millions in revenue so it was very safe to put it on the lease."
Do not agree. Corporations can generate nothing to billions and could still be losing money. I get at 2 years of corporate tax returns and check with D&B. If company does not want to supply tax returns I get personal guaranteed. Also get minimum of 2 months security.

You can get the corporation to guarantee if you get what is known as an authorization on behalf of the corporation for the person signing (say the boss) to do so. Without an authorization your corporate guarantee is worthless. Alternatively, a letter from the corporations attorney that the individual signing has authorization to bind the corporation.

corporations are people.

thanks everybody. We ended up having the applicant and the company listed on the lease, but with applicant as the sole occupant, and a senior supervisor signed as guarantor.

thanks for easing my worries.

well played

Maybe someone can clarify what the effective purpose of doing that was? I'm not clear on what listing the company achieves, if the occupancy is restricted to a named individual and the guarantee is a personal guarantee (though from another company employee). Therefore the company is a 'tenant' but with no right to occupy?

There are only a few companies citywide that allow corporate leases. The lease application is complicated with occupants and financial information . It is very difficult to get legal compensation if the lease is broken.

Often an occupant of the apartment does not qualify for the standard 40 x rent. The corporation places the tenant and secures the lease. They are also able to bring in more than one occupant during a one year lease. This is very common with diplomats, but often they have to waive thier immunity to US Law if they do not pay rent.

Could be smart to keep it with the lessee rather than the corporation .
If there's an issue , you don't want some legal issues getting hung up

the reason i was given was because the tenants did not want to pay nyc taxes. They are florida residents that will stay in the apartemnt 3-4 days a week and spend the rest of the time in florida.