Renting a garage

[randedge]

Hello all!

Suppose I want to rent a garage where mechanical work is allowed. It is located in a residential area, advertised as a "workshop", and the owner has confirmed that the mechanical work I have in mind is allowed. What should someone potentially thinking about renting this garage look for?

And by this I don't mean "what physical objects are needed in a shop", but rather proof that the car and property will be safe, secure, and should the unthinkable happen, insured. The car will not be taken off of insurance. I do however, wonder what will be there for the tools I decide to leave behind. Basically, what do i look for in a rental agreement contract?

Thanks

R.

[HiTempguy1]

Originally posted by randedge
Hello all!

Suppose I want to rent a garage where mechanical work is allowed. It is located in a residential area, advertised as a "workshop", and the owner has confirmed that the mechanical work I have in mind is allowed. What should someone potentially thinking about renting this garage look for?

And by this I don't mean "what physical objects are needed in a shop", but rather proof that the car and property will be safe, secure, and should the unthinkable happen, insured. The car will not be taken off of insurance. I do however, wonder what will be there for the tools I decide to leave behind. Basically, what do i look for in a rental agreement contract?

Thanks

R.

I just did the exact same thing. Personally, I would want it to read almost exactly like a rental agreement of a house/condo/apt.

You should be able to get insurance to cover belongings inside, just like in a condo. Depending on how nice/scummy the area is, I would suggest boarding the windows up a bit JUST IN CASE.

And finally, only YOU have a key, that would be my number 1 concern. Even if it meant supplying your own deadbolt/doorknob for the door. I definitely would try to work that into the agreement.

[FraserB]

How much does this kind of thing usually run?

[thrasher22]

Originally posted by HiTempguy1


I just did the exact same thing. Personally, I would want it to read almost exactly like a rental agreement of a house/condo/apt.

You should be able to get insurance to cover belongings inside, just like in a condo. Depending on how nice/scummy the area is, I would suggest boarding the windows up a bit JUST IN CASE.

And finally, only YOU have a key, that would be my number 1 concern. Even if it meant supplying your own deadbolt/doorknob for the door. I definitely would try to work that into the agreement.

I rented a garage to stored my project car/tools and some misc furniture most of last year and wasn't able to get insurance... Granted I didn't shop around, but when I called RBC they said I could only get insurance on the property, not the garage.

You might be able to find someone that specializes, or if you find an actual work shop (run like a business) you might have more luck.

[HiTempguy1]

Originally posted by FraserB
How much does this kind of thing usually run?

Private people want WAY too much (typically $150+ for a single garage/half a garage to store a car, not even work on it or be allowed access anytime).

The best way to go about it is to find a property management company that manages a property with a detached garage that the current tenants have no use for.

The management company will try to rent the garage for as cheaply as possible to get the management of such a low income "property" out of their hair, while the owner of the property still sees a bit extra net cash (say, $50/month).

Since power to the garage is part of power to the house as well, you'll probably have free power.

I'm paying $175/month including free power (free heat!) for a 24x24 garage Seems to be the going rate with a property management company. Keep in mind, these listings will be rare, it's best to browse kijiji everyday. I found two, almost the exact same deal/size/availability for $175/month, both with different management companies. I wouldn't pay more than $200 unless it's in a nice area, maybe has a furnace, etc etc.

[mr2mike]

It's a hassle renting to people who want to do their own mechanical work. Noise, always coming and going, fluid spills.
People treat it like crap. Definitely not the same respect if it was your own place.

Why would I rent to you when I can get the same rent from someone who drives their car in there, puts on the trickle charger and leaves it for the winter and never see's them again till April.

Pretty easy decision for a landlord.
Just being the devil's advocate here.

[Noremac]

I'm glad I found this topic. Currently renting an 800 sqft heated 3 car garage and am having the worst time trying to insure the things I want to put in there.

I want to insure $10,000 in tools, the $20,000 in parts that I have, and have liability insurance just in case anything happens to the property.

My current insurance company who I have 4 vehicles insured with refuses to offer any coverage on these items as they see them as difficult to value. There is also a certain amount of disbelief when I tell them this is all for personal use because I'm a technician by profession.

Is anybody aware of an insurance company that is prepared to offer the coverage I'm looking for? I don't want to go commercial, but may have to.