The Lease........

[ThePoetSuede]

I am looking at 1800 sq ft of space in the Manhattan area. I want to lease this space for at least 15 years with a 5 year option. So far the landlord is okay with this and we are moving forward.

My question is: The landlord is sending me a commercial lease application which requires a $1000 credit check. I am told this will be applied to my 1st months rent if all is okay with my credit but if not then it is non refundable. I am not concerned with my credit but I have never heard of such a thing. What if they review my report and come up with an excuse.

Anyone have some feed back............

[hotwash]

locations are hard to come by, $1k is nothing when talking about starting a laundromat. go for 20 with options , ny CPI every five yrs for increase, free rent till open store then half for 6 months put the other half on yrs 4 &5, try for electric door, i never get but i always ask. small store load up with big machines to get more money per sq ft. and 1 or 2 big dryers a must in todays market. good luck if your in ny check out www.asnlaundrygroup.com (http://www.asnlaundrygroup.com), they did my cousin good with his store first class store, good luck and welcome to the wash world.

[petefritz]

Maybe they are testing how serious you are. And if you have any money.