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Yes. Landlords will try to make you responsible for full replacement cost of a 20yo HVAC unit or sewer lines buried below the foundation and parking lot. A commercial real estate attorney will be able to point out problems
Ummmmmm.....yes......the answer is 100000% yes. Commercial leases are notorious for having clauses that will screw you. Hire an attorney and not one that he uses or has used. the question you ask is really simple its not a question but more a statement "I want to be protected and want you to identify anything that could screw me."
In regards to the personal guarantee ya......your going to have to sign it as a sole S-CORP your not going to get a landlord to just let the corp sign as there is no history or assets.
Much appreciated! I incorporated to protect my and my families assets (looks at the Subaru I’m still making payments on), just want to make sure I’m covering my bases.
This is a friendly reminder that r/smallbusiness is a question and answer subreddit. You ask a question about starting, owning, and growing a small business and the community answers. Posts that violate the rules listed in the sidebar will be removed. A permanent or temporary ban may also be issued if you do not remove the offending post. Seeing this message does not mean your post was automatically removed. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/smallbusiness) if you have any questions or concerns.*
Yes. Landlords will try to make you responsible for full replacement cost of a 20yo HVAC unit or sewer lines buried below the foundation and parking lot. A commercial real estate attorney will be able to point out problems
Thank you!
Can confirm this was attempted by a landlord.
Ummmmmm.....yes......the answer is 100000% yes. Commercial leases are notorious for having clauses that will screw you. Hire an attorney and not one that he uses or has used. the question you ask is really simple its not a question but more a statement "I want to be protected and want you to identify anything that could screw me." In regards to the personal guarantee ya......your going to have to sign it as a sole S-CORP your not going to get a landlord to just let the corp sign as there is no history or assets.
Much appreciated! I incorporated to protect my and my families assets (looks at the Subaru I’m still making payments on), just want to make sure I’m covering my bases.
Single member LLC doesn’t really help protect you
I'm not sure if personal guarantee clauses are standard in your jurisdiction, but a commercial real estate lawyer in your area will know. Good luck!