Key Takeaways - This application helps landlords screen business tenants before signing a lease. - It collects the business's legal details, finances, rental history, and references. - Landlords often ask for a personal guarantor, especially for newer businesses. - The applicant signs the form to authorize credit and background checks. - Create yours instantly at 360 Legal Forms, attorney-vetted, customizable, and downloadable as a PDF or Word file. Only pay applicable subscription fees.
Whether you are leasing a retail storefront, an office suite, or a warehouse, this form gives you the information you need to compare business applicants. No legal experience is needed to create one.
What Is a Commercial Lease Application?
A commercial lease application is a screening form for business tenants. It records the company's legal name, entity type, Employer Identification Number (EIN), owners, finances, and intended use of the space.
Landlords use it to confirm that the business can pay rent and that its intended use complies with local zoning.
Other Names for a Commercial Lease Application
- Commercial Rental Application
- Commercial Property Application
- Commercial Lease Application Form
- Business Rental Application
- Retail Lease Application
- Commercial Tenant Application
No matter what it's called, 360 Legal Forms helps you create an attorney-vetted version that fits your property.
Who Needs a Commercial Lease Application?
- Commercial landlords screening tenants for office, retail, industrial, or warehouse space
- Property managers are comparing several business applicants for the same unit
- Business owners who want their details organized before applying for space
- Subleasing tenants are vetting a business that will take over part of their space
A commercial lease application is typically not needed for residential rentals, which use a residential rental application instead.
Commercial vs. Residential Rental Application
General comparison only. Screening practices vary by landlord and state, so check your state's requirements.
What Does a Commercial Lease Application Include?
How to Fill Out a Commercial Lease Application (Step by Step)
1. Enter the Property Details
Add the property address, unit number, and the space you are applying for.
2. Add the Business Information
Enter the business's legal name, entity type, EIN, and years in operation.
3. List the Owners and Principals
Include each owner's name, ownership percentage, and contact information.
4. Describe the Intended Use
Explain the type of business, operating hours, and number of employees on site.
5. Provide Rental History
List current and previous landlords, with dates and monthly rent.
6. Add Financial Information and References
Enter bank details, revenue, and at least two business or credit references.
7. Name Any Guarantor
Add the name and contact details of anyone personally guaranteeing the lease.
8. Sign and Authorize Screening
Sign the application to authorize credit and background checks.
What Documents Are Needed for a Commercial Lease Application?
Landlords commonly request supporting documents with the application.
Requirements vary, but typical requests include:
- Business tax returns for the past two years
- Financial statements, such as a balance sheet and a profit and loss statement
- Formation documents, such as articles of incorporation or organization
- A business plan, especially for new businesses
- Guarantor documents, such as a photo ID and personal tax returns
Why Is a Commercial Lease Application Important?
- It helps landlords choose qualified tenants. Consistent screening makes it easier to compare applicants fairly.
- It documents the business's commitments. The signed application records the information the tenant provided.
- It prepares both sides for the lease. An approved application leads to a commercial lease agreement, which can be backed by a guaranty agreement when a guarantor is involved.
What Information Will I Need to Create My Commercial Lease Application?
- Property Details: Address, unit, and square footage
- Business Information: Legal name, entity type, EIN, and years in business
- Owners: Names and ownership percentages
- Intended Use: Type of business and operations
- Rental History: Current and previous landlords
- Financials and References: Bank, credit, and trade references
- Guarantor: Name and contact details, if any
Commercial Lease Application Signing Requirements
The applicant signs the application, and any personal guarantor may also sign. Notarization is generally not required. Personal credit reports on owners are typically pulled only for sole proprietors or people who will be personally liable, such as guarantors.
What to Do With Your Commercial Lease Application?
- Collect supporting documents. Gather tax returns, financial statements, and references.
- Run approved checks. Use the signed authorization to verify credit and references.
- Store it securely. Keep applications in your secure 360 Legal Forms account.
- Move to the lease. Once approved, prepare the commercial lease for signing.
Explore our full library of attorney-vetted real estate legal forms
Why Use 360 Legal Forms for Your Commercial Lease Application?
Customized for You, by You
Our guided questionnaire walks you through every field, so your application fits your property and screening needs.
Attorney-Vetted for All 50 States
Every template is reviewed by experienced attorneys and designed to work across all 50 states.
Download Instantly as a PDF or Word File
Once your questionnaire is complete, download your application from your secure online account. Pam Rogers, a verified 360 Legal Forms customer, found the forms straightforward to use and the customer service helpful.
Conclusion
A commercial lease application gives landlords a consistent way to screen business tenants before offering a lease. Create your free commercial lease application at 360 Legal Forms and download it instantly as a PDF or Word file. Only pay applicable subscription fees.
Bibliography
- U.S. Small Business Administration
360 Legal Forms is not a law firm and does not provide legal advice. The information provided is for general informational purposes only. Laws vary by state, so consult a licensed attorney for advice specific to your situation.
