Landlord asked for my business plan before I can even view the property is this normal?

I saw a property that I was interested in viewing as a prospective space. However the landlord told me I needed to let him see the business plan first before I see the space. I could understand the need of I was sold and interested in leasing but I haven't even seen the space yet. Is this normal?
In Leasing Property - Asked by Diondra M. - Aug 13, 2016
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Answer(s)

Mohanie K.
Broker/Agent
Holmdel, NJ

Hi, Diondra. No, this is not normal at all. Naturally, a property owner will ask some questions concerning the use and other needs of a prospective tenant. But this is highly confidential info this landlord is requesting. Sounds very strange.

Aug 14, 2016
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Michael G.
Developer
Mokena, IL

Not normal. He should have requested some financials, profit and loss statements etc to verify that your are a qualified tenant or buyer for his space. It would still be the landlord's prerogative to request that information depending on your business type and years in operation

Aug 15, 2016
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Trey P.
Developer
Fort Worth, TX

I disagree with both answers above. This is a very common practice if a Tenant is a start-up in Texas. Why would the Landlord/Broker waste their time showing space to a Tenant that may not be able to afford the rent and/or be an acceptable use?

Aug 17, 2016
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Narinder S.
Broker/Agent
Toronto, ON

I don't think they should ask before showing, but it's acceptable to ask for if you choose to lease.
It's mostly to see tenant/location fit, the landlord wants to see can the business work?
source: Our company builds/owns A class retail in New England and we ask for business plans most of the time - but only before signing the lease.

Aug 17, 2016
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Diana H.
Broker/Agent
Zuni, VA

No, this is not appropriate. A business plan is confidential information and should not be revealed just to view a property. However, it would not be inappropriate for the owner to ask a general question regarding the prospective buyers intended since the zoning of the property may inhibit certain uses.

Aug 17, 2016
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Kayla C.
Owner/Investor
Auburn, MA

Hi Diondra,
I think you need to take everything into consideration. If the site you have selected is desirable for a number of reasons and the property representation is verified, than it may be acceptable to share your intended strategy with the owner. This is will provide the owner opportunity to determine if your business is a good fit for the space and is able to produce a profit that aligns with your lease obligations -especially if this is your first physical location. If the site you are seeking has a lot of vacancies, appears to be run down or poorly cared for, you may be hesitant to share such information with the property owner, as well as hesitant to lease the space all together.

Aug 17, 2016
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Javier D.
Broker/Agent
Scottsdale, AZ

Hi Diondra,
That is not a normal answer. Probably the landlord is concerned about the tenant that is going to occupy the space. When you negotiate with the Landlord, usually it is better to take a look at the space first and tell them that If you like it you will follow up with a LOI (letter of intent) or a Leasing Contract.

Aug 17, 2016
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Craig T.
Broker/Agent
Anaheim Hills, CA

Hello Diondra:
While this request may not be normal in most markets it does happen.Most Landlords main question is:Will you be able to pay on time & be in business the entire length of the lease? You need to decide if this location is so great that you are willing to show your confidential info.They have the right to ask and you have the right to refuse.You may not be approved if you do not give them what they are asking.

Sep 3, 2016
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