For the purpose of this policy disclosure, the term “Corporate Lease” shall not apply to Leases requested by a “Relocation Agency” related to an Insurance claim. If a Relocation Agency co-signs a Lease, then that is, by definition, a Corporate Lease, but for the purpose of this disclosure, a Corporate Lease will describe the situation where a Corporation or Business Entity co-signs a Lease for their employee that they are transferring to the area. To see the Broker’s policy on Relocation Agency Leases, click here.
Property Owners are not required by Law to consider Lease offers from Corporations.
The Broker will not consider executing a Corporate Lease unless:
- The Property Owner is agreeable
- The Occupants are employees of the Corporation
- The Corporation is registered to do business with the Secretary of State of Alabama
- The Corporation is willing to present documentation demonstrating that it is financially capable to make rent payments. Documentation may include, but is not limited to business credit reports, tax documents from the two most recent filing periods, etc. The only exception to this rule would be when a large Corporation has its financial information published online.
- An Authorized Signer of the Corporation signs the Lease