bravo 35 Report post Posted August 22, 2007 I need to run a credit check on a prospective tenant for a commercial property I own. Normally I wouldn't bother, but this tenant doesn't appear to have any real assets that I can put a lien on in lieu of a breach of lease, so want a bit of peace of mind before I let them sign. Anyone know who does them? Cheers Quote Share this post Link to post Share on other sites
Grant 4 Report post Posted August 22, 2007 Baycorp are the biggest and most thorough. Quote Share this post Link to post Share on other sites
Braeden320 0 Report post Posted August 22, 2007 Hey Mate, I run a finance comapany here in Palmy. We credit check all of our clients on vedaadvantage.com. But keep in mind you need to get them to sign a privacy act form saying you are acting on there behalf doing a credit check-by law you HAVE to do this. Alternitvly they can do one on themselves on mycreditfile.co.nz and give it to you-then you don't need the privacy act signed. Hope that helps, any questions i should be able to answer them. Quote Share this post Link to post Share on other sites
bravo 35 Report post Posted August 22, 2007 Thanks. baycorp don't provide credit reports anymore - I use them for chasing bad debts, but they no longer provide the report. Will get in touch with vedaadvantage. Thanks. Quote Share this post Link to post Share on other sites
Braeden320 0 Report post Posted August 22, 2007 No Worries.Good Luck Quote Share this post Link to post Share on other sites
jpp 0 Report post Posted August 22, 2007 How old are you? How you manage to own a commercial property?! Quote Share this post Link to post Share on other sites
QuickSilver 0 Report post Posted August 22, 2007 How old are you? How you manage to own a commercial property?! i was about to ask this too, very impressive Quote Share this post Link to post Share on other sites
bravo 35 Report post Posted August 22, 2007 25 - the bank owns most of it And I own it in syndicate with two others. Quote Share this post Link to post Share on other sites
jpp 0 Report post Posted August 24, 2007 25 - the bank owns most of it And I own it in syndicate with two others. Brilliant idea! As long as the rent covers some of the mortage and the interest repayments, how can you go wrong? Quote Share this post Link to post Share on other sites
StylesM5 0 Report post Posted August 24, 2007 Plus he's from up north where property is $3.50 Quote Share this post Link to post Share on other sites
Palazzo 468 Report post Posted August 25, 2007 You're probably wasting your time in regards to a credit check if they have no real assets, as you can't chase anything. Can you get a guarantee from parents/relatives/business associates? Have you had a look on the companies office to see if they have been involved in any previously failed or struck off companies? Increase the deposit, 6 months? Bank guarantee? Statement of position from accountant? There are plenty of ways to sort this without much bother. Quote Share this post Link to post Share on other sites
bravo 35 Report post Posted August 25, 2007 Thanks Palazzo. The credit check is to make sure they havn't been in trouble before. If they have, then I won't touch them. If they havn't then will see about guarantees. Being a commercial premises the lease will be in the name of their company, with them listed as personal guarantors, but obviously if their personal guantee isn't worth sh*t, then its pointless. Quote Share this post Link to post Share on other sites
Sick Puppy 1 Report post Posted August 26, 2007 (edited) Having never been involved with rental properties, is it worth having a look at their current setup, and why they are moving? Tidy and ordered setup being better than a mess for the first part, and things like accessibility/ expansion for the second? Just another way of checking what they're like I guess, as well as talking with them... bear in mind also that a struck off company doesn't necessarily mean much, bar that it's ceased trading- there are a whole heap of reasons why a company gets struck off, some being legit, others dodgy... just sayin'. Edited August 26, 2007 by Sick Puppy Quote Share this post Link to post Share on other sites
