I am a landlord, but not just garage space.As has already been mentioned, I
think the critical issue will be insurance - specifically liability.
Interesting concept though. Finding the right person will make or break the
endeavor.Just to bound the downside - go rent Pacific Heights then add power
tools! The rental agreement would take some effort - shared is trickier than
exclusive.Everyone has to secure their own stuff?...How do you feel about
sharing tools?Could your renter conduct "for profit" work there?Can he or she
come and go at any time? Perhaps the best option would be a friend that wanted
to keep a car there, but even then I would still have a written agreement.
many issues... I would say buy it if you like it and can get a fair price, but
don't consider rental income unless you are prepared to rent out the entire
shop. In a perfect world, the 2 car attached would be enough for you and your
renter was Mr. Goodwrench and you could negotiate a preferred rate and he
would do all of your wrenching for you in the shop he was renting for big $$.
Good Luck! Keep us apprised.
Matt
---------- Original Message ----------
From: PJ McGarvey <pj_mcgarvey@hotmail.com>
To: Shop Talk <shop-talk@autox.team.net>
Subject: [Shop-talk] Renting garage space
Date: Thu, 9 May 2013 10:22:30 -0400
Toying with the idea of *considering* bidding on a house with an amazing
garage... rest of the house is great too, just has some other issues and the
price is a bit high...
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