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What does your lease say? Are there reporting requirements?
Yes, but they should not need your whole tax return.
I think since like you said its a new lease ,the landlord can ask for financials. The recent financial condition of the tenant has an importance for the landlord. i would think the landlord wants to negotiate lease based upon the financial strength. Its not something to be alarmed about. Good luck on your new lease.
No, this is not illegal. As others have stated, your financial strength as a tenant is of importance and consequence to the landlord.Having said that, you also have the ability to say no to this request. It's a negotiation.
I agree ...negotiate. I do not let anyone see my financials! Given the current market trends in commercial leasing your landlord should be happy that you are offering a renewal! You have a track record obviously and you need not negotiate from a point of weakness. I wouldn't be surprised if down the road there is a landlord ready to offer you a better deal...then a financial statement is expected and you also are oised to gain a saving in rental costs etc.The economy is bleeding to death and commercial interest rates are about 1.75% higher than Canada and given where you reside they may even be as high as 5.65%. Negotiate a lease with zero increase and you will probably get it...no landlord wants to loose tenats..I know I am one!
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