Tenant credit review
Investigate who pays the rent and how durable that payment stream may be.
Use this as a working agenda. Confirm transaction-specific requirements with your advisers. Checkmarks are temporary and reset when the page reloads.
A recognizable brand does not necessarily mean the public parent guarantees the lease.
Request current statements, trends, liquidity and debt information with appropriate confidentiality controls.
Reconcile aging, late payments, concessions, disputes and returned payments.
Identify customer concentration, cyclicality, location dependence and licensing needs.
Compare rent and other property obligations with the tenant’s documented operating economics when available.
Verify scope, financial support, burn-off triggers and enforceability with counsel.
Check draw conditions, expiry, renewal and transfer for letters of credit and deposits.
Measure how one tenant, industry or related tenant group affects the property’s cash flow.
Estimate downtime, improvement costs, commissions, carry and the achievable replacement rent.
If financials are unavailable, document the uncertainty instead of treating informal assurances as equivalent evidence.
Review renewal, termination and assignment rights, business-location dependence and replacement alternatives. Financial strength alone does not ensure the tenant stays after its obligation ends.
Document permitted information requests, confidentiality, responsible reviewers and a follow-up schedule appropriate to the exposure. Verify any required consent before obtaining protected information.
An original editorial checklist. It is not a legal form, lender requirement list or substitute for a property-specific investigation.
Research context
These sources inform the underlying investment questions. The checklist is an original working agenda; the sources do not impose every listed step on every transaction.