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Landlord Responsibility

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matthewk825

Junior Member
What is the name of your state? CA.

2 part question

1. We are a church group looking at leasing a warehouse space in L.A. The owner has agreed to a reduced rate on the monthly payment so long as we assume full responsibility for anything and everything that is or could go wrong. Is it legal to even offer such a deal? I know residential landlords are responsible for just about everything that goes wrong. How does this apply to commercial space?

2. Will being on this lease agreement hurt my chances of obtaining a home loan while on the agreement. Even though there will be no direct out of pocket expense on my behalf, will being on the lease reflect my credit rating and the appreance of my financial state?

Thank you for your advice and time.
 


HomeGuru

Senior Member
matthewk825 said:
What is the name of your state? CA.

2 part question

1. We are a church group looking at leasing a warehouse space in L.A. The owner has agreed to a reduced rate on the monthly payment so long as we assume full responsibility for anything and everything that is or could go wrong. Is it legal to even offer such a deal?

**A: yes, since this is a commerical lease and not bound by the residential L/T law. it would not be wise to assume that type of liability though.

************
I know residential landlords are responsible for just about everything that goes wrong. How does this apply to commercial space?

**A: basically anything goes.

**************

2. Will being on this lease agreement hurt my chances of obtaining a home loan while on the agreement. Even though there will be no direct out of pocket expense on my behalf, will being on the lease reflect my credit rating and the appreance of my financial state?

**A: yes as a personal guarantor.

***********

Thank you for your advice and time.
**A: peace out.
 

south

Senior Member
Nothing wrong with that deal its called Triple Net..........


matthewk825 said:
What is the name of your state? CA.

2 part question

1. We are a church group looking at leasing a warehouse space in L.A. The owner has agreed to a reduced rate on the monthly payment so long as we assume full responsibility for anything and everything that is or could go wrong. Is it legal to even offer such a deal? I know residential landlords are responsible for just about everything that goes wrong. How does this apply to commercial space?

2. Will being on this lease agreement hurt my chances of obtaining a home loan while on the agreement. Even though there will be no direct out of pocket expense on my behalf, will being on the lease reflect my credit rating and the appreance of my financial state?

Thank you for your advice and time.
 

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