I'm about to negotiate with one of my absentee neighbors for the rental of one of the bays of his three bay detached residential garage. The garage is unheated and has electricity, but I don't intended to use any power. It's basically a concrete floor, four walls and a roof. I'll be using it to store one of my Cubs in over the winter and possibly longer.
If you were in my shoes, or his for that matter, what would you think is a reasonable monthly rent for such an arrangement. I have a figure in mind, but I don't want to offend the guy by offering too low. By the same token, I don't want to overpay, either.
Thanks for any opinions or comments.
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What's It Worth?
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Don, I would check with local Store'n'locks to see what they get and go from there. If you are only going to use it for storing and won't be working in it, and he isn't using it, he may let you have it for about half of their rates. I paid $125 a month for a 12x30 last year for temporary storage in an unheated pole barn bay. That came out to about .35 cents a sq.ft.
There are two ways to get enough Cubs. One is to continue to accumulate more and more. The other is to desire less.
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I'm with Pete. Check the prices for local storage units. And his prices are about right for this area.
Then again. Absentee neighbor. Perhaps he/she will let you store the tractor free for checking on the property periodically, keeping the sidewalk or drive way cleared. Something that is a win-win situation for both parties.
I would get an idea of the local storage prices. Then talk to the neighbor over a cup of coffee.
I would also go for a written one year contract. A reasonable discount for the advanced full year payment.
Then again. Absentee neighbor. Perhaps he/she will let you store the tractor free for checking on the property periodically, keeping the sidewalk or drive way cleared. Something that is a win-win situation for both parties.
I would get an idea of the local storage prices. Then talk to the neighbor over a cup of coffee.
I would also go for a written one year contract. A reasonable discount for the advanced full year payment.
I have an excuse. CRS.
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Thanks for all the input. My neighbor and I came to a very reasonable agreement on price for the bay. I checked with my insurance company and the tractor is covered for full value by my homeowner's policy, regardless of location. The tractor is resting comfortably in it's new location as I write this.
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