why are proof of funds necessary in leasing transactions in South Florida

In Leasing Property - Asked by David H. - Sep 9, 2015
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Answer(s)

Damon D.
Broker/Agent
Bala Cynwyd, PA

This certainly isn't just a South Florida thing. Landlords want to assets for a number of reasons and typically relate to the lease guarantee, wanting to make the sure the tenant has the funds for TI fit out, has ability to pay rent in lean times, etc. etc.

Sep 10, 2015
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Michael L.
Broker/Agent
Pasadena, CA

Many landlords have been burned by new tenants that talk a good game, but are not able to meet their obligations as far as the lease is concerned.
Proof of funds is one metric that a landlord can use to qualify a tenant.
Especially if there are free months of rent, the landlord wants to know that they are not committing to a dead beat.

Sep 11, 2015
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Chris R.
Broker/Agent
Denton, TX

Simply from the vantage point that the property owner / landlord is going to be "in business" with the tenant and wants to know if they have the wherewithal to handle their end of the arrangement with the landlord committing the property and build out, etc. for one tenant vs. another.

Sep 24, 2015
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