Commercial Rental Application

A commercial rental application is a document a landlord uses to determine a prospective tenant’s financial background. After completion, the tenant submits it to the landlord and waits for approval. Once approved, a commercial lease is written and signed.

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Last updated August 19th, 2024

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A commercial rental application is a document a landlord uses to determine a prospective tenant’s financial background. After completion, the tenant submits it to the landlord and waits for approval. Once approved, a commercial lease is written and signed.

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What to Verify (as a landlord)

  1. Credit history. Obtain a credit report on the business owner(s). If they have outstanding debts, it will appear on their personal credit report.
  2. Past tax returns. Request the last 2-3 years of tax returns. This will show if the business is profitable and the business owner’s income.
  3. Financial statements. Such as a P&L statement, balance sheet, or other income statements.
  4. Background check. To search public records for any criminal history or if the owner has been involved in legal proceedings.
  5. Ordinance check. Confirm the business use would be in accordance with local zoning and code enforcement laws.

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