Existing tenant base reports: know the tenants you inherit
Before you buy an income-focused property, add tenant due diligence. QCR checks each tenant you inherit for legal actions, judgments, tax arrears, NSFs and corporate status. It helps you judge their ability to keep paying.
- Goes beyond the rent roll and lease review
- For valuation firms, REITs, funds and lawyers
- Licensed national agency, in business since 1992
A rent roll shows who pays today
Lease terms, receivables and payment history are the first step. They won’t show if a tenant faces legal actions or judgments, or owes corporate, HST or employment taxes. They also miss NSFs with other creditors and a cancelled corporate registration.
Tenant income sets the value of the property. Rent is often the last bill a business under financial stress stops paying on time. A report on each existing tenant helps you weigh its stability and its ability to keep paying before you buy.
What the report covers
QCR reports on each existing tenant separately. Depending on the tenant, the report can include:
- Legal name, corporate status and provincial registration
- Legal actions and judgments, current and past
- Tax liens and Corporate Tax Branch violations
- Pending Tax Court of Canada cases
- Overdue and NSF payments with other creditors
- Trade payment history from the commercial credit file
- Banking relationships and borrowing facilities
- Personal property lien registrations (PPSA)
- Real property owned by the tenant
- Bankruptcies, receiverships and CCAA creditor protection filings
- Business affiliations and other places of business
- Negative media exposure
Existing Tenant Base ReportHow QCR prepares each tenant report
You request the reports
Start with a sample or a pricing request. When you’re ready, you order a report on each existing tenant of the property or portfolio you plan to buy.
One investigator works with you
A specific, experienced investigator is assigned to your file and works with you directly, one-on-one. QCR starts fresh with every file instead of relying on a database snapshot.
You receive a verified report
Each report is tailored to your needs and set out in an easy-to-follow format, with comprehensive, current and verified information on the tenant.
Common questions
Who is the Existing Tenant Base Report for?
It’s for real estate valuation and advisory firms, pension funds, REITs, property management companies, funds targeting core properties and commercial real estate lawyers doing due diligence on an acquisition. QCR serves business clients only.
Should I get a report on every tenant?
QCR recommends a report on each existing commercial tenant. To get pricing for your property or portfolio, choose Pricing in the request form.
What if a tenant is a sole proprietor or partnership?
The report still applies. For a sole proprietorship or a general or limited partnership, current registration details are confirmed with the ministry in the province where it does business.
What happens after I submit the form?
A member of the QCR team replies to your work email with the sample, pricing or brochure you asked for. They can also answer questions about your acquisition.