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The landlord of a commercial space for rent may require the following: Security deposit (e.g., one months rent or more) Financial statements. Profit and loss statements. Balance sheet. Business bank statements. Previous landlord information. Credit reports. Business tax returns.
The short answer is it depends. Local zoning laws and insurance coverage make a big difference depending on your location. Its usually wise not to live in a commercial property unless your lease includes living on premises. You dont want to get evicted from both your home and business.
A business lease can be much more affordable up front, providing your business with more liquidity. Buying commercial property can potentially require you to pay six times more in up-front costs than you would if you leased the same property.
Although they can be lived in, commercial properties are primarily intended to function as business premises.
If a property is in a commercial zone, is residential allowed? Yes. With the exception of the J-Industrial District where new housing is only allowed if 40% of the frontage [library.municode.com] is already residential, residential uses are permitted.
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Yes. However, living in a house owned by your LLC may not be the best ideaunless youre a celebrity, really value privacy, or have a stronger than average need for asset protection. Basically, the gains need to be worth the headache of navigating the variety of legal and tax implications that can develop.
Its usually wise not to live in a commercial property unless your lease includes living on premises. You dont want to get evicted from both your home and business. Property owners insure their buildings for specific purposes. Illegally living in a commercial building can invalidate coverage.

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