llcOur landlord wants to list my wife and me as the tenants for our commercial space rather than the LLC. Our old lease listed the LLC but also said we personally guaranteed the lease. Is there any difference? Should we demand that it list the LLC with us signing on the business’ behalf?
This particular lease is a short-term lease so fortunately our personal exposure is at least somewhat limited.
Our old lease listed the LLC but also said we personally guaranteed the lease. Is there any difference?
Of course. LLC is a separate legal entity. You may guarantee its obligations, but taking the obligations on your own name may trigger some unintended consequences (depending on the jurisdiction, it may even lead to piercing the corporate veil).
Should we demand that it list the LLC with us signing on the business’ behalf?
You may try to demand whatever you want, its up to you and your landlord to reach an agreement. You can’t force someone to rent property to an entity that someone doesn’t wish to rent to. If the landlord doesn’t want to lease the property to the LLC - you need to consider what your next step should be. Look for another place? Rent in your own name and sub-let to the LLC? Rent in your own name and let the LLC use it and hope no client will break their leg and sue you? Don’t know. Up to you.
Do talk to a lawyer to understand perfectly what options are there at your disposal and how each of them may affect you and your business.
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