Leaseing to a corporation : ezLandlordForms

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Leaseing to a corporation

Thomas M

started a topic over 9 years ago

A business owner want to lease an apartment for himself under the corporation for tax purposes. What do I need to look out for ? I Live in Chicago IL. Thanks

1 Comment

Derrick D

said over 9 years ago

Is this going to residential or commercial? These are to different leases and do have different laws, rules and regulations. If it is residential, as in a daycare, and the business is an LLC you would treat it the same as an independent tenant, all laws still apply and this LLC is more of personal protection. However, this seems to be more of a commercial endeavor, so you want to make sure you know what type of business is going to be in your property, what they will produce and you need to lay down what is acceptable business to run out of your property. Again the corporation is ok you would just use a commercial lease and make sure you do your proper background checks and financial research. You will also want to have the information of their bank and funding parties.