What would be sufficient evidence to confirm have sufficient income to meet the rent

[bounce]

A landlord is requesting this as one of the things they require before giving consent to assign a commercial lease...

'Evidence that the proposed tenants have sufficient income to meet the rent.'

Would a bank statement or a declaration from an accountant be sufficient?

 

[Christine Hough]

I would think so. He can always ask for more information if he wants.

We had to provide information to act as guarantors when our son got his first flat. I got the impression that the agents really had no clue how to assess but needed to tick a box.

However as this is a commercial lease, you may need to show that you can fund it over the period of the lease. It's a bit weird because presumably, you are probably intending to use the property to generate the funds.

At the end of the day, the landlord can ask for anything he wants to, providing it is not illegal discrimination.

 

[ME Accountants]

This can vary but some will ask for copies of your last few company accounts and a letter from your accountant.

 

[Bob]

Most qualified accountants would be reluctant to provide such a reference without the reference containing significant disclaimers

 

[Newchodge]

Why don't you ask the landlord/agent?

 

[bounce]

Landlord has been very awkward in the whole matter and taken ages to even respond to the request to assign the lease.

The proposed tenant is purchasing the existing business that is in the property.

 

[Toby Willows]

Presuming a PG is being sought. Bank statements can be pretty meaningless on their own, unless you are fortunate enough to be cash rich to the tune of the duration of the lease. In the past we've used a combination of bank statement with our credit report and mortgage statement with house valuation showing we had more than enough equity.

 

[Ashley_Price]

Landlord has been very awkward in the whole matter and taken ages to even respond to the request to assign the lease.

Which would make me very wary about signing anything with them. If there were any problems with the property after you took on the lease, how quick would the landlord be to getting it sorted?

A friend of mine moved into a flat just over a year ago. One of the living room windows was broken and boarded up, but not very well, and there is quite a draught. The landlord promised to get it fixed in a month.

Since then, despite many requests from my friend, the landlord has never "got round to it". My friend is moving out. The landlord is now telling viewers that he will fix the window within a month of them moving in... (my friend is "letting it slip" that he told her the same).

 

[bounce]

I am the one selling the business and trying to get the lease assigned to somebody else.

However my solicitor and buyers solicitor are not fully sure what information would be sufficient as he is buying the business to make money and pay the rent from there.

I have asked the landlord what info he wants but hasn't replied and neither has his solicitor after my solicitor asked the question.

If they don't get it sorted soon the deal is going to fall through. We sent a request to assign about 6 weeks ago.

Only this week have they properly replied asking for x y z... Whats even more frustrating is they are asking for some things which we sent with the original request to assign.