Quote:
Originally Posted by 20yrsinBranson
We have an LLC which is why the landlord is also requiring a personal guarantee from me.
20yrsinBranson
|
How long is the lease? If you are not ok with having to keep paying him if you go out of business then go month to month or tell him NO Personal Guarantee. If I had to personally guarantee a 1 or 2 year lease then I would make sure he gives you the first 3 months free to help get you going. This is not uncommon, you should get something for guaranteeing him rent. Remind the landlord that he will have an extremely hard time filling that space in this economy & if you don't move in that it will be vacant for a long, long, long time.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
