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Suzanne MacD…, Real Estate Pro in Morristown, NJ

Has anyone had experience with corporate tenants for a residential unit?

Asked by Suzanne MacDowell, Morristown, NJ Fri Sep 23, 2011

My clients were approached by a corporate entity that wants to lease their townhouse. The offer is for a two year lease with an option to buy at the end of the lease term. Of course, I want what's best for my client, but I have some concerns, who do you evict if the lease is broken? How do you do a background check to ensure they pay their bills on time? How do you enforce the lease if the people actually staying at the townhome, for example, disturb the neighbors with loud music, etc. What is the likelihood and/or consequences if the corporation declares bankruptcy? Anyone have any experience in this regard?

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