
Do you have a restaurant space that you would like to fill with a quality tenant? Set your expectations with the prospective tenant upon your first initial meeting.
Six factors that can help you select the right tenant:
If the prospective tenant knows that their personal creditworthiness is of importance to you, you'll cut right to the chase every time. Your prospective tenant may have a background that may not be spotless. Background checks are inexpensive and can provide a lot of valuable information into the business dealings of your prospective tenant.Feasibility study. Has your prospective tenant had a feasibility study done or is one planned? This study will give you and your tenant the security in knowing that the new restaurant may be the right concept in the right area. If the prospective tenant has not considered a study, and you like what you see from the Landlord perspective so far, you may wish to split the cost of a feasibility study with the tenant, or just pay for it yourself and bill the prospective tenant back over time. Most importantly, the Feasibility Study will help identify and confirm the market niche that your prospective tenant is seeking to fill. This is of vital importance both to you and to your prospective tenant.Business plan. Want to surprise a quality prospective tenant with something great? Business team. Legal, accounting, and restaurant consultant all play unique roles and contribute to the profitability of the operation.Top Tips For a Landlord Leasing to a New Restaurant Tenant
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