I'm preparing a Lease Agreement. Tenant is a freelance, self employed business, speaker, motivator, trainer, but no buy/sell goods involved. The standard language is not conducting a business in a rental. Tenant does virtual and remoted work at residence, and she would like to have this permission on the Lease, which we are okay with.

I thought she may use the rental address (townhouse) as her business address. This can be silence on the Lease, but is there any owners / landlords liability for having such for business address?

Thanks.

Hi Colleen-

I agree with Vee(OH) about Income.

I think I would request the last couple of years Income Tax Statements and last few months Bank Statements.

I realize that Motivational speakers can make a good money.

Colleen,

I sense a giant problem coming your way if you rent to this applicant.

We would never accept such an applicant.

No self-employed because once they fall behind we cannot garnish.

And I cannot begin to count the number of "motivational speakers, trainer, mentors", etc and "online business" we have apply. Everyone with a camera on their laptop and a free YouTube channel is suddenly "self employed".

Nope nope nope. Even if they are making great money it's still nope. Because tomorrow the cash may stop flowing.

YouTube has a history of chopping payments. People with tons of views and ad money are suddenly "recalculated" and cut in half.

Laws vary by state and local govt so KNOW if you can deny based on SOURCE OF INCOME.

Keep looking.

BRAD

More...

just for grins Google this person and check their YouTube channel.

My last "Online trainer life coach" had 6 views.

Tax returns on self employed applicants are nice but they only show the past. They don't prove income RIGHT NOW, only that the person had some good sales in the past.

Stay strong and protect your biz.

BRAD

I have several tenants who a Home Run Business. Some I have to allow by law, such as a day care. But in all cases tenants must have the proper insurance and license to conduct their business using the rental as a home base.

One of my tenants agreed to obtain renters insurance. After 30 days he could not product an insurance policy, now saying it was too expensive, $700 a year. My agent quoted me $350 a year per tenancy, so I passed along the info. Still no policy. My agent gave such a great price because they demand first year up front.

So then I told this tenant that they would have to move, costing them around $2,000 for the move. I said, if you had to move you'd use a credit card to pay the movers. Why not charge the renters insurance policy on your credit card, they only charge a $5.00 fee.....