The process for qualifying a tenant often varies from landlord to landlord. During covid, many landlords are more flexible. Tenant mix, personal credit, company balance sheet, profit and loss statements, open credit lines, and growth projections post covid are all considerations.
Hard to imagine a post Covid world but it’s coming. Think strategically and past the next 6 months. Don’t give up. It’s a very risky venture but it’s NOT the 90% first year failure rate that is often cited. If that statistic were true, the restaurant industry failure rate would mean virtually no business for anyone. In fact, restaurants will be back and in growth mode post Covid.
SITE EVALUATION ANALYSIS
Now more than ever, tenants need specific tools to measure demand and supply of a particular market and their potential customer base. The analysis of site selection involves both quantitative examination and qualitative insight following a three-step process.
ON TIME RENT PAYMENTS
Leverage with the landlord in lease negotiations often depends on the tenant’s ability to demonstrate their ability to pay rent on time and every month without fail. Here are seven ways a tenant can show the landlord they can pay the rent:
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Disclaimer: All information furnished regarding property for sale, lease or financing is from sources deemed reliable. No representation is made as to the accuracy thereof and all such information provided is subject to errors, omissions, or changes in conditions, prior sale, lease, or withdrawal without notice. All information should be verified by recipient for accuracy.