Realicore’s 7 Step Commercial Tenant Screening Checklist
Required Documents for Commercial Lease Consideration
The following questions must be answered and documents submitted by the interested tenant to Realicore in consideration of executing a formal lease agreement.
Step 1. Pre-Screening Questions
What type of business do you have? (We need to confirm zoning will allow your type of business)
Overview of your financial picture: Credit score? Annual business revenue or income? Do you have start-up funds? How much? Any recent bankruptcies? Past evictions?
Provide a copy of a business plan, your website, and/or some form of social media Ex: Instagram
Step 2. Building Walkthrough
Walk through the building and determine if it fits your business needs
Step 3. Application Requirements:
A Letter of Intent (LOI) so we know what terms you are proposing
2 years of bank statements, company’s P&L, and/or 2 years tax returns
All Lessees must complete a credit check and background check at their own cost
Step 4. Ownership Entity Documents:
Corporation: Articles of Incorporation (Issued by State), Corporate Bylaws, Meeting Minutes, Board Resolution Letter with your ability to enter into a lease agreement signed by everyone listed on the Articles of Incorporation, Company W-9.
Trust: Copy Revocable Living Trust Agreement, Copy of Power of Attorney (Who is able to sign for the Trust), W-9 for the Trust.
LLC: Operating Agreement, Articles of Organization (Issued by State), Letter of Consent for whoever is signing (Must be signed by all members), Company W-9.
Copy of Driver’s License (DL) of all lease signers.
Step 5. Execute Lease
Realicore will create a lease and have all parties sign.
Collect rent, deposit and any fees in the form of a cashier’s check made out to Realicore.
Step 6. Required Documents Once Lease is Signed by Both Parties
Certificate of Insurance (COI) naming Realicore and Property Owner as additionally insured.
City Business Permit.
A copy of your proposed floor plan if changes are being made to the existing floor plan.
Name, contact info, proof of active insurance and contractor’s license number of your contractor before you make any tenant improvements (TI).
Completed Move-In Inspection.
Step 7. Move Into the Building
We will give you keys and remotes to the building on your move in day once all of the above has been completed
Utilities need to be transferred to yourself or your business within 3 business days lease commencement date
Disclosure: This article is a snapshot of our screening process, but the actual screening process may have changed since this article was written. If you are looking to lease a commercial space managed by Realicore, the most up to date information can be found by talking to the active Leasing Agent who represents the building you are interested in leasing.
