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SMS Lease Application (Commercial)

SMS Lease Application (Commercial)

Aug 6th, 2022

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How to SMS Lease Application (Commercial)

4.9 out of 5

55 votes

A commercial lease application enables landlords to assess a potential tenant's creditworthiness before finalizing a lease agreement. It allows verification of the tenant's business details such as gross income, expenses, bank balances, rental history, and personal guarantees. Landlords can charge a fee, typically between $50 and $200, for conducting business credit checks. Key steps in performing a business credit check include obtaining a completed rental application from the prospective tenant, verifying the business's good standing through the state's Secretary of State website, and obtaining the business's Paydex score from third-party services like Experian, which ranges from 1 to 100.

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