The commercial lease application is a form used to verify a tenant’s business and personal credentials by verifying their revenue, credit profile (business), personal credit profile (owner), and any other requested details (e.g. past evictions, bankruptcies, etc.). After the landlord has done a careful evaluation of the tenant’s credit and business profile they will move to either signing a letter of intent (PDF, MS Word) or directly to a commercial lease agreement.

Simple Commercial Rental Application – Adobe PDF

Comprehensive Rental Application VersionAdobe PDF

Best Ways to Check a Business’s Credit

  1. Dun & Bradstreet – $121.99 – Obtain a PAYDEX Score (1-100) which informs the landlord of the business’s average time of paying vendors with other information.
  2. Equifax – $99.99 – Standard scores related to the company’s profile, credit summary, and any public records.
  3. Experian – $39.95 – Standard business credit profile with premium access to the company’s financials for more money ($199.99 for pro plan).

Best Ways to Check an Individual’s Credit

  1. MyRental – $19.99 to $34.99
  2. RentPrep – $18.95 to $35 – Includes credit report, criminal background check, and eviction checks.
  3. LeaseRunner – A la cart pricing model:
    • $20 Credit Report
    • $15 Criminal Report
    • $10 Financial Report
    • $12 Eviction Report

How to Fill-in a Commercial Lease Application

Download: Adobe PDF (Comprehensive Version)

1 – Save The Commercial Lease Application To An Accessible Location In Your Machine

The link “Adobe PDF (Comprehensive Version)” above will grant access to the lease application required to process an official request for a commercial lease agreement with the Landlord of a commercial property. It is generally recommended to keep a copy of such paperwork handy so that it can be accessed and utilized when needed.

2 – Prepare This Document For The Applicant

The first three lines at the top of the page will contain four blank spaces – each labeled. Produce the legal name of the Commercial “Landlord/Lessor” who has the right to lease the property on the first blank line. Now, input the address of the physical location where the commercial premises this application concerns can be found and visited in person on the second blank line. On the third blank space record any unit, suite, or “Space #” that can be used to define the location of the premises while the number of “Square Feet” in the concerned rental should be documented on the fourth blank space.

 

3 – Several Items Of Applicant Information Must Be Present On This Application

The application portion of this document, where the entity seeking to rent from the Landlord presents its information, may be filled out by anyone qualified to prepare it (i.e. a translator, a real estate agent, or someone in-house) however, the source of all the information presented must be the Applicant as he or she will need to attest to its accuracy and its authenticity. We will begin with the first required piece of information concerning the Applicant by supplying the “Complete Legal Name To Appear On The Lease” on the first available set of blank lines under the horizontal bar. One of the next six blank spaces must be check marked by the Applicant to indicate if the applying entity is a “Corporation,” “LLC,” “Partnership,” “LLP,” if he or she is the “Sole Proprietor” of the applying entity, or if it is a “Non-Profit.” If none of these entity types are marked, then the Applicant must describe the entity type on the blank space labeled “Other (Explain).”

The next item that must be displayed is the “State In Which Entity Formed” which must be followed by the four-digit year when it was officially an entity on the blank line “Year Formed”

In most cases, the Applicant may have a “Federal Tax Payer Identification No” (i.e. FEIN). If so, the next blank line will accept this information.  If the Applicant will be doing business as another entity or using another name, this name must be documented on the blank line labeled “D/B/A To Appear On Lease.”The current address of the Applicant should be documented in the next set of blank spaces where this entity’s street address must appear on the “Main Or Home Address” line followed by its “City,” “State,” and “Zip Code.” Ample space has also been provided for the Applicant’s “Business Phone,” “Mobile Phone,” and “Fax” numbers to be documented.  The next area should contain information if the Applicant has a separate mailing “Address For Notices & Billing” and will consist of the labeled spaces necessary to quickly identify each component of the Applicant’s official mailing address. If the Applicant for the commercial rental property currently does business under a different name and/or operates at an address different from the addresses above, then it should be disclosed in the section beginning with the blank line “Current Business Name.” If this line is filled out make sure the Applicant has accompanied this name with an address, phone number, (if applicable) fax number, and how many “Yrs. In Business” this entity has been in operation The next part of this application will seek to define the “Name Of Person(s) Who will Sign Lease” either for the entity applying for this space or as the entity applying for this space. Enough room has been set to show a report on two individuals however, make sure each entity Officer or Owner whose signature is required on this paperwork have his or her information supplied to this document. Each of these sections will display the name on the first blank line (labeled “Person 1” or “Person 2”) as well as the Signature Applicant’s “Title,” “Social Security Number,” “Driver’s License Number” and “State Of Issuance” documented. Additionally, Each section with a Signature Party named will also solidify the marital status of this person, his or her address, and his or her phone numbers (“Business Phone,” “Mobile Phone,” and “Fax”)If the Applicant has “Other Business Locations” then, the next section will have adequate space for him or her to document “Location 1” and (if applicable) “Location 2” with that locations Name or Branch Name, “Street Address,” “City,” “State,” and “Zip Code.” Finally, the “Name Of Person(s) Who Will Guarantee Lease” will supply the space required to report the identities of two individuals who will agree to pay the rent amount should the Applicant’s payment go into default. Two individuals must be listed in this section with their names, Titles, Social Security Numbers, Birthdays, and Driver’s License Numbers (and the State of Issuance) to fully identify them. In addition to the above information each one’s contact information must be provided in the form of a “Street Address,” “City,” “State,” “Zip Code,” “Home Phone” number, “Mobile Phone” number, and “Fax” numbers.

 

4 – Make Certain The Reference And Creditor Sections Have Been Filled Out

The next two sections will give the Applicant the opportunity to present and solidify his or her references. These parties will (ideally) have agreed to receive an inquiry regarding him or her made by this document’s Recipient Landlord or Property Management Company. The first of these areas “Credit Reference (Business/Personal)” should contain a report on up to four parties who you may contact for a statement on the Applicant’s reliability. Ideally, each area should deliver the “Name” of the Reference, an indication as to whether this is a “Business” or “Personal” reference, as well as that party’s address, “Contact Name,” and “Phone” number. The next section, under the heading “Bank References (Checking/Savings Accounts)” will present the contact information required to write a bank or similar financial institute to verify the Applicant holds the type of account he or she reports having. Two distinct set of lines will allow for the “Name,” “Account Type,” “Address,” and “Account Number” of the specific bank and account number defining the Applicant’s account. The Applicant’s “Credit Card Information” will be the next report title presented. You will be able to locate the “Issuer” of an Applicant’s credit card, the “Card Number” held, the “Approximate Balance” owed by the Applicant for that card, and the minimum “Payments” the Applicant must make in regards of up to three different credit cards. If you believe the Applicant has more, make certain to request an attachment or simply add more areas at your discretion.If the Applicant has “Other Creditors Not Already Listed (Auto Loans/Mortgages, Etc.),” then the Applicant must utilize the next area to present each “Creditor’s Name,” “Type Of Loan” from that Creditor along with the Creditor’s full address, a “Contact Name” there, and a contact “Phone Number. This section allows for three such entities to be identified in this way along with the “Account Number,” “Balance,” and “Monthly Payment” information maintained by the Applicant. Any “Additional Comments” on this subject may be visible on the blank line in this area.

 

5 – Check For Any Required Paperwork Necessary For A Proper Submission

Some Applicants may need to report more information to prove their reliability and, in most cases, it is generally preferred that all such paperwork is provided with the physical application to the Landlord/Property Management Office. Locate the title “Attach Copies Of the Following Documentation As Applicable. This area will have a checklist that the Applicant should mark when submitting additional paperwork.  If the Applicant has attached an “Applicant’s Current Balance Sheet And Income Statement” then item 1 will have a check mark on the corresponding blank line. If the last “…Two Years’ Federal Tax Returns” of the Applicant is attached, then the second item must be checked. The third item should be marked if the Applicant has attached a “Personal Financial Statement” The Applicant should have marked the fourth statement if the “…Recent Two Years’ Federal Tax Returns” of the Guarantor(s) has been attached to this application.The fifth item will indicate whether the Applicant is also submitting a “Credit Check Authorization” form. This form must be attached, and this statement must be marked for you, as the Landlord or Property Manager, intends to run any kind credit check on the Applicant.

Now you must check that the paperwork, above has been properly submitted. Let us check the “Credit Check Authorization” form (on page 5 of this packet). The first blank line in the statement must contain the Landlord/Property Manager’s legal name. Below this the “Applicant” and (if applicable) his or her “Spouse” will have presented their company name, their signatures, their respective positions held with the Applicant Entity, their respective dates of birth, Driver’s License Numbers, the “FEIN Or Social Security Number” of the Signature Party, and the signature date.  The next document that has been included for the benefit of the Applicant is the “Personal Financial Statement.” If the Applicant has filled this out, then it should present his or her Name and Date on the first two blank lines. This document will provide the Applicant with a “Balance Sheet” and “Income Statement” sections. This will continue into an additional area where he or she can provide items defining “Cash & Short Term Investments,” “Stocks and Bonds,” “Unlisted Securities, ” Life Insurance Carried,” “General Partnership Interests,” real estate residences and investments, and “Direct & Partnership Interests.” He or she will need to fill these out then provide a signature and signature date at the bottom of page six of this packet. 

 

6 – Finalize This Application

The “Conditions And Information” section may be attended to by the Landlord/Property Management Office or the Applicant, but it must be completed before the Applicant has signed any part of this application. The first blank line in the declaration will require the name of the entity managing this application and the property. If a Credit Check Authorization Form is required with this application, then mark the blank line following the term “…Credit Check Authorization Is.” If it is not a requirement then the blank space after “…Is Not” should be marked. Notice in the example below a Credit Check Authorization will be requiredThe final area of this application, “Landlord Use Only.” You will be able to document the “Lease,” “CAM” (Common Area Charge), “RET” required, and any “Other” required payments for this rental property.