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

Customer Question
a home to a corporation...
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: 6 years ago.Category: Tax
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5/2/2011
Tax Professional: Richard, Tax Attorney replied 6 years ago
Richard
Richard, Tax Attorney
Category: Tax
Satisfied Customers: 56,021
Experience: 29 years of experience as a tax, real estate, and business attorney.
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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.

 

 

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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
Richard, Tax Attorney
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Customer reply replied 6 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?
Tax Professional: Richard, Tax Attorney replied 6 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.
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