How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask Joshua Your Own Question
Joshua
Joshua, Lawyer
Category: Law
Satisfied Customers: 31555
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
35043042
Type Your Law Question Here...
Joshua is online now

I own a garage which is leased out, the existing tenant is

This answer was rated:

I own a garage which is leased out, the existing tenant is selling his business and as a landlord what references do I need to check on the incoming tenant
JA: Where are you? It matters because laws vary by location.
Customer: Hampshire
JA: What steps have you taken so far?
Customer: none as I have just been told by the existing tenant
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Other than there is 2 years remaining on the present lease, nothing else

Hello and thank you for your question. My name is ***** ***** I will be very pleased to assist you. I'm a practising lawyer in England with over 15 years’ experience. Please be aware that although I will endeavour to reply to you promptly, I am also in full time private practice and so I may not be available to respond immediately and it may also take me a few minutes to prepare a reply. The site will notify you as soon as I respond. I look forward to working with you to answer your question fully.

  1. May I confirm of this is a garage such as a lock up storage garage or a garage such as a car repair garage please?
  2. for the avoidance of doubt, whatever the position, is this a garage from which a business is actively run?
  3. is there any provision in the lease for an authorised guarantee agreement? This is a provision whereby the outgoing tenant guarantees the rent for the incoming tenant.

Customer: replied 7 days ago.
1) Car repair 2) The business is active 3) The existing tenant is not guarantor for new tenant
Customer: replied 7 days ago.
I just need to know what references I need as the business is changing hands

thank you. Obviously, the decision as regards ***** ***** you require is ultimately a matter for you but typically, a commercial landlord would want to establish whether the proposed new tenant is a limited company or a sole trader/partnership.

In the case of a limited company, consideration should be given as regards ***** ***** guarantee guarantees should be requested from one or more of the directors of the company otherwise any claims would be limited to the company itself which may relatively easily be wound up by the directors.

Notwithstanding the above, it would be typical to require ID for each tenant or in the case of a limited company each director of the limited company being a passport or driving licence together with a recent form of proof of address; a reference from the businesses bank or accountant confirming that the rent is affordable for the company and if the company is not an established business you may also wish to consider requesting a business plan in order that you can make a determination as regards ***** ***** of the business though this may not be necessary for a business with a proven track record of trading.

Finally, you may decide that you wish to request an electronic reference to supplement the above information such as the following:

https://www.lethq.co.uk/company-reference

Customer: replied 7 days ago.
Thank you

I'm glad the above answers all your questions for now. If you have any follow up questions please revert to me.

I hope I was able to answer your question. If you would like to ask me another question in the future, you can add me as a favourite Expert. You'll have the option to do that on your "My Questions" page if you choose to rate our interaction or you can request me by name if you wish. Thank you again for visiting JustAnswer and see you again in the future I hope.

Joshua and other Law Specialists are ready to help you