How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Tax Attorney
Category: Tax
Satisfied Customers: 53967
Experience:  29 years of experience as a tax, real estate, and business attorney.
17027240
Type Your Tax Question Here...
Richard is online now
A new question is answered every 9 seconds

What are the advantages to the landlord, if any, to leasing

Customer Question

What are the advantages to the landlord, if any, to leasing a home to a corporation? What information should we request in lieu of a credit report?
Submitted: 5 years ago.
Category: Tax
Expert:  Richard replied 5 years ago.

Good evening. Actually, there are no advantages to the landlord; rather, the disadvantage is that the corporation is a limited liability entity and usually the person is leasing through a corporation to avoid personal liability for the lease. As a landlord, you would want to not only have the corporation on the lease, but also require the individual owners of the corporation to personally guarantee the lease on behalf of the corporation. You would also want to check the credit of both the corporation and the individual owners.

 

 

I hope this has given you the guidance you were seeking. I wish you the best of luck!

 

If you have a follow-up question, please remember that there might be a delay between your follow up questions and my answers because I may be helping other clients or taking a break.

 

If I have adequately answered your question, even though the answer might not have been the one for which you hoped, I would appreciate it if you would please click the GREEN ACCEPT button so that I receive credit for my work; otherwise, though you have made a deposit, I do not receive credit.

 

If you need additional clarification on this question after clicking ACCEPT, please do not hesitate to click Reply and I will be happy to do what I can to help you further. Thanks for allowing me to be of service to you.

 

The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

Richard and other Tax Specialists are ready to help you
Customer: replied 5 years ago.
The individual has offered a good faith letter from the state and a letter from the bank verifying her account is in good standing. Do these carry the same weight as a credit report?
Expert:  Richard replied 5 years ago.
No...those are meaningless....the good standing certificate from the state simply means that the corporation has paid its franchise taxes for the year, which can be nothing if the corporation has no activity; and the letter from the bank only indicates the corporation has an account.