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1547 Views 2 Replies Latest reply: Jun 29, 2012 7:36 PM by swiss-house RSS
New Member 2 posts since
May 21, 2012
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Jun 27, 2012 10:02 PM

Renting to a company or LLC instead of an individual person

Is there anything I need to know about renting to a company like an LLC instead of an individual?  I require people to sign a rental agreement that I got off of here.  I'm guessing I could use the same rental agreement, but I'm not sure.

 

Thanks,

Frank

  • mauioceanview Contributor 250 posts since
    Jul 22, 2011

    so the renter is an LLC? Is it a business paying for one of their employee's stays? I would want it still written up in the actual guest's name, having the guest sign off on the house rules etc. And I would definitely want the guest to pay the security deposit (not the LLC) so that the guest has a vested interest in taking care of the place. If you are okay with accepting a company check for the payment, that's okay, but the agreement should still be in the individual's name.

    • swiss-house Contributor 260 posts since
      Jul 6, 2011

      Typically this would be for a company retreat.  I've done a few of these, so here are some thoughts:

       

      Make sure you get the name of the manager or director who will be responsible for the group on-site at the retreat.  Preferably, that person's name should be on the contract, along with the company's.  I always want a name and contact phone number for the person who will be on-site with the group and leading the meetings, etc.

       

      Confirm that the number in the group is the total number of people who will be onsite at any given time, not just the number of people who will be staying overnight.

       

      Specifically ask them to be careful with pens and writing instruments.  They will be held responsible for ink marks on furniture, etc.  (Speaking from experience where they broke into small groups in each room and dropped pens on sofas)

       

      Don't be surprised when they ask for a Tax ID or SS#.  The IRS requires companies to send a 1099-M to any business they do $500 or more business with in a year.  Even if your bill is less than $500, most companies want to have the info and file a 1099 since they don't know if there might be a second visit that would push it over the $500 minimum.

       

      I might be able to think of others with time - but those are a few starters for anyone renting to a company. 

       

      Same rules apply for renting to a church or any other group that might plan a retreat / offsite meeting.

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