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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 34855
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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I'm a Landlord and writing up a commercial Lease for my

Customer Question

I'm a Landlord and writing up a commercial Lease for my building. I'm listing the tenant's personal name then dba the business name. Will this give me a personal guarantee of sorts and is this legal?
JA: Because laws vary from place to place, can you tell me what state the property is in?
Customer: Wadshinton State
JA: Has anything been filed or reported?
Customer: no
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 4 months ago.
Category: Legal
Expert:  Barrister replied 4 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney whowill try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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Is this a corporate entity you are leasing to ...like a LLC or a Sub S Corp?

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Do you know how the person is going to sign? (with their personal name or "Bob Smith, President of XYZ Corp")

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Will the tenant agree to personally guarantee the lease?

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thanks

Barrister

Customer: replied 4 months ago.
LLC... Will sign his personal name.
Expert:  Barrister replied 4 months ago.

Ok, if it were me, and I wanted to cover all my bases and make sure that he was personally liable as well as corporately liable, I would list two tenants....the LLC and him personally on the lease. He would sign personally for himself and then he would sign as a member of the LLC for it. That way you have both of the legal entities on the hook if things go south.

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With a DBA designation, you are really not holding the LLC liable because if he signs personally, and not as a member of the LLC, it isn't on the hook. So I would want both of them on two different signature lines.

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Either that or have him sign a separate personal guarantor agreement... But that is more paperwork and more effort than just adding another signature line..

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As an aside, in addition to being an attorney, I have also been a landlord for over 26 years...

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thanks

Barrister

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