Some good ideas in there, thanks. Obviously liability is a big issue, and
even if covered it's one that could easily outweigh the income earned. Not to
mention the pain in the ass renter you may end up with.
One thing I learned from renting a house, was that it might be a good idea to
check first to see if the renter has a Daddy who is a lawyer.. BIG no no.
Escort them out immediately. They will pull that card whenever possible.
Makes we wonder what kind of *standard* home insurance policy this building
would carry anyway...
Darn expensive hobbies.
-PJ
> Date: Thu, 9 May 2013 09:55:28 -0700
> From: jamesf@groupwbench.org
> To: shop-talk@autox.team.net
> Subject: Re: [Shop-talk] Renting garage space
> In today's litigious society, the only way I would do this is to form an
> LLC or S-corp and have that entity run the rental business, and possibly
> own/lease the property. I would for sure consult with an attorney
> beforehand. If someone gets hurt on your property, you can lose it just
> in lawyer fees alone from a lawsuit.
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