Rent out your shop when not tractoring?

blunosr · Jan 27, 2019

Hi, I have a fully equipped shop, and can take on pretty much any project (wood, metal, auto/tractor). And I use it regularly to putter, but there's usually room for another person or two to work as well. Do any of you guys rent out shop space?

I know I'd have to keep an eye on my hand tools, but it always seems a shame to me that I have all this very high end equipment (hoist, welders, machines of all descriptions) just sitting there.

I thought it might be a good passive income in my looming retirement. I suppose I could move into my little shop, or build another shop just for me, and just rent out my 4-bay.

Thanks,

Troy

pinball · Jan 27, 2019

Did you ever think about teaching some one how to repair tractors. I saw an ad awhile back where a couple young fellows wanted to learn to work on dozers. they said they were willing to pay someone to teach them. letting some one else using my shop wouldn't work at all. just a thought.

NY 986 · Jan 27, 2019

I've heard of it done but a lot of times it does not work out. People will have different standards than you and then you have to watch their friends who have less of an
interest to watch out for you. Insurance would need to be raised in coverage. Say you use it a little over 30 days then how do you figure utilities? Somebody abuses a power
tool and ruins it then do you want to battle that person to replace it. What if that person says the ruined tool is older than dirt and therefore he is not responsible. Just not
worth it in my mind to do what you propose. If you insist on doing this then I would insist on a formal commercial agreement reviewed by a lawyer and an insurance agent.

55 50 Ron · Jan 27, 2019

Where are you located? If you could figure out your rental details, it seems a very good idea to me.

Tony in SD · Jan 27, 2019

All I have to say is since I don?t have a full time employee in the shop and the kids are gone, all my tools are where They are suppose to be.

Josh-nhihguy · Jan 27, 2019

An agreement between you and people you
know is about as far as I would go.
Whether that's renting it out or just
trading something. We do that once in a
while with our friends and neighbors and
we all offer to pay but nobody ever
accepts it. The stipulation is being able
to reciprocate in the future.

More to say but mostly all common sense.

But do what makes you feel good.

wrenchere85 · Jan 27, 2019

Sounds like a good idea. Only if you limit it to one person, with interests like yours, who has his own projects. Or
wants to pickup some extra money working on other peoples cars. But I would not want a parade of people using my tools and
garage. When too many people know what you have and where it is at, the less time you will have it. But it is nice to have
someone to work with, or maybe help each other.

JOCCO · Jan 28, 2019

Bad idea I will elaborate. You are now in a position for insurance workers comp the whole shooting match. If the guy you rent to is open to the public even worse. Do you really want people using all your stuff (riding it like a free horse)? What if they do stupid stuff like paint a car and all your stuff has a tone of yellow?? Or they cause a fire by way of cutting torch? I would either sell the place if I wanted to downsize or just keep it for your own use. Yes I know letting your son or a close friend do stuff in there is different and neither pay very well!!

David G · Jan 28, 2019

To be honest, it sounds like a nightmare, especially if they get hurt there.

wvfarmboy · Jan 28, 2019

sorry but i really dont want anyong in my shop but me

GEO-TH, In · Jan 28, 2019

Bad idea unless you empty out your tools.
I know a person who rented a farm house.
Tenants moved out, emptied his workshop
and took his truck to. Hadn't paid rent
for 6 months.

I rent a 1200 ft garage. You'll need
commercial insurance. Pay more taxes.

fixerupper · Jan 28, 2019

My son has a business that leases out feed trailers to owner operators. As a perk the owner operators can work on their semi tractors in his shop. Mainly they do oil changes and change tires and fix lights. The oil from the oil changes is drained into a pan that is sucked out by a pump and deposited in a tank so there are no pails of oil laying around. All of the drivers are very good about putting stuff away and cleaning up so that has not been a problem. One rule my son set out right away was all old tires leave when the truck leaves and that has worked well too.

Now as for my own shop, my son and a close neighbor and I are the only ones who use my shop. I'm too fussy to let just anyone in there.

RedGreenGuy · Jan 28, 2019

With todays environment I would not. Liability number 1. Friends helping renter or renter himself may be checking out shop for break in. Or renter tells his friends what a great shop and tools you have and they make a late night visit.
Loaned out a 16' flat bed to a "friend". When he was done it was dropped on my lot without a word said of any problems, Tongue bent, support jack gone and both axles bent. Have never loaned anyone my tools or equipment since.

redforlife · Jan 28, 2019

I would not recommend it unless you empty out building, and just rent the building out. And make sure the renter
is responsible for and carries insurance on what he's going to be doing in there. The person you thinking about
renting to might be a buddy, responsible, accident free. But the problem is, his friends and customers are likely
to be less golden. Alot of people come and go in that line of work. And if you renting because you not going to be
there using the space, then your not going to want to be there all the time suppervising actions and babysitting
your stuff.

I got friends that might let a buddy work on something in thier shop, but only that buddy can be there and likely
only one project at a time or maybe only one project period just to help out a friend.

Rent out your shop when not tractoring?

blunosr

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pinball

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NY 986

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55 50 Ron

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Tony in SD

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Josh-nhihguy

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wrenchere85

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JOCCO

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David G

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wvfarmboy

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GEO-TH, In

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fixerupper

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RedGreenGuy

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redforlife

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