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Discussion Starter · #1 · (Edited)
A possible opportunity has come up. The neighbor house flipper brought up to my wife, the idea of renting out the 20x30 shop so I could use it. He may be renting out the house he's fixing up instead of selling it. I'm hoping to see him on Friday when I telecommute.

I have yet to see inside, I ASSume it's got a cement floor, he did say it was wired for 220. It's fully enclosed, one 10' wide sliding door, one man door. lockable. It's your standard metal shop structure. No water.

Does anyone have any idea what a fair rent would be? I wouldn't think it would be much per month, but then again I don't have much. :laughing:

(yes, a billing issue for electrical would need to be worked out.)
 

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I paid $480/month for 1500 sq ft. That's all I can offer.

My old shop was in an industrial park, zoned for heavy industry in a high traffic area. The building was pretty beat-up, but it let me do what I wanted.
 

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Discussion Starter · #4 ·
So, when I'm thinking a couple hundred a month, that might not be out of line.

Forgot to mention this shop is 3' away from the house. So some work may be limited depending on future tenants; unless I could insulate the living hell out of the walls. (I could supply labor, but he's gotta supply materials.)

I was also going to ask him if he was interested only in money or if a barter deal could be worked out. i.e. does we want a near by property manager.
 

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Make insulating, soundproofing and fixing up the garage part of the barter deal.
 

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Call around and find out what folks are paying for similar in your area. When I was in PDX, I paid $350 for a single bay garage that I was only permitted to use for storage.

Location, location, location.
 

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Discussion Starter · #8 ·
Call around and find out what folks are paying for similar in your area.
I looked in to that once, I might be the retarded one in this; but I couldn't find any source of garage/shop rentals that didn't involve leasing an old gas station or commercial/industrial space at a premium price.
 

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I looked in to that once, I might be the retarded one in this; but I couldn't find any source of garage/shop rentals that didn't involve leasing an old gas station or commercial/industrial space at a premium price.
Drive through an industrial park and look for "For Rent" signs. At least you'll know what they are charging.

Make up a good story if you don't wanna tell the truth.
 

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get everything in writing
I'd second that one.

I don't know what space you currently have, so I don't know how much of an improvement it is, but given its only 3' from the house that's potentially going to be rented, I could see it turning into a bit of a headache, possibly more than its worth.

I'd also be careful about getting in any long-term agreements on the space if a month into the agreement you're severely curtailed in the hours you can work on your stuff due to whiney neighbors.

-mike
 

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I would say in your area that $180-$200 month should be fair. If your that close to a residence then you will be burdened with what you can and can not do during certain hours. There is no office space, restroom, etc. just the shell and 2 doors ( a slider no less, rather than an overhead door), Not much to it. But good for you and a few extra $$ for him each month. If its not metered for utilities then you may have the person in the house squaking about you causing the bills to go up. Try for a month to month rental agreement in writing.
Sounds like a deal I would like to have. Good luck.

P.S. Start low on the negotiations, you can always come up in price.
 

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Agreed. Definitly Depends on the location. In urban areas of Ca it's not surprising to see shop or industrial rents for small spaces over $1 / sqft + utilities. If you can get it for a couple to a few hundred bucks it sounds like a deal. Try to negotiate a set utility rate per month. Maybe $20-$40 (not sure how much power goes for where you live)
 

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shop rental

Travis,
Caution!!!
When you have a place to store stuff. You will have more.
Since this guy was a flipper, that is a sign that he will unload it for the investment and return when he feels he can get back out.
Remember the goal of a flipper is to get in and get out. Then on to the next "deal".

As for utilities. you could install a meter of your own on the incoming side to the shop and then you would have a good way to divide the bill.

I would recommend a small loan and for the same payment put up your own shop. Improves your resale and you have absolute control.
You do not need to build 20 x30 all in one shot say 20x 15 with plans for another bay as funds permit.. Steel carports (if allowed) start at about 600.00. Easy to fully enclosed and add concrete floor..
Hopefully you could build something yourself and invest the labor, too.

I rented a garage in a similar situation and was given 30 days notice to vacate. Not an experience to repeat.

my 2 cents

Cheers and best wishes
Dudley
 

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I would offer him 200-250/mo. This is a supplement to the rent he will receive on the house and he probably would not have a lot of demand for it if you were not interested.
 

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Discussion Starter · #16 · (Edited)
Travis,
Caution!!!
When you have a place to store stuff. You will have more.
Since this guy was a flipper, that is a sign that he will unload it for the investment and return when he feels he can get back out.
Remember the goal of a flipper is to get in and get out. Then on to the next "deal".

As for utilities. you could install a meter of your own on the incoming side to the shop and then you would have a good way to divide the bill.

I would recommend a small loan and for the same payment put up your own shop. Improves your resale and you have absolute control.
You do not need to build 20 x30 all in one shot say 20x 15 with plans for another bay as funds permit.. Steel carports (if allowed) start at about 600.00. Easy to fully enclosed and add concrete floor..
Hopefully you could build something yourself and invest the labor, too.

I rented a garage in a similar situation and was given 30 days notice to vacate. Not an experience to repeat.

my 2 cents

Cheers and best wishes
Dudley
If he chose to unload it when he could, rather than rent it. That's fine. I really don't bring that much stuff with me and am financially limited in getting more. Since the shop is only 30-40' from my house I can just keep in mind to limit how much crap I bring over, it's not like it's a long walk to get anything anyway. I'de make sure to set myself up in a manner that I could pull up stakes in a weekend.

I've looked at just building my own and it's not happening right now. The shop is the cheap part, it's all the other work involved. I have to pour a driveway to the shop, but before I do that I need to jack the house up, tear out the foundation, rebury the sewer main 3' deeper and repour the foundation. That sewer main runs right under the driveway, it would be a waste of $x,xxx to just have to tear up a 7-10yo driveway. Owning my own shop/garage is part of a $120,000 10 year plan. But at the end of the plan I get a 800-1,000 sqft shop and the house grows from 1400 to 3,000sqft.
 

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Discussion Starter · #17 ·
I would say in your area that $180-$200 month should be fair. If your that close to a residence then you will be burdened with what you can and can not do during certain hours. There is no office space, restroom, etc. just the shell and 2 doors ( a slider no less, rather than an overhead door), Not much to it. But good for you and a few extra $$ for him each month. If its not metered for utilities then you may have the person in the house squaking about you causing the bills to go up. Try for a month to month rental agreement in writing.
Sounds like a deal I would like to have. Good luck.

P.S. Start low on the negotiations, you can always come up in price.
electrical - I had a couple ideas.

I can install a 50A RV receptacle about 10' off the property line. Would have to find out about any GFCI requirements first. Then I could run an extension cord I already own over to the shop for the 220 stuff and 110 tools. That would leave just the lighting on their meter. Even that could be put on the extension cord if I had to. 50A is more than adequate for my needs for the foreseable future. That's the worst case scenario, which isn't really *that* bad.

the distance from the residence would definately be a bigger concern. As well as where they will park so that they don't block access to my door. There's plenty of room to park, but being that close they'd either block the sliding door to park close to the house or be willing to walk the extra 20'.

But, work on the house has slowed, I think a lot of that has been a financial constraint. So, it could be a while before the house is together enough for a renter. Because of this I figure a barter deal for property manager probably isn't in the cards, but I'm asking anyway. too bad I don't posses a license to do electrical work, I could offer him trade for putting the electrical back in the house. (Since I don't own it, I technically can't work on it)
 

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Be sure to let us know how this plays out, thanks and good luck.
 
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