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we have a commercial lot and a utility trailer business wants

Resolved Question:

we have a commercial lot and a utility trailer business wants to rent the lot, what should we charge for the space?
Submitted: 5 years ago.
Category: General
Expert:  TaxTom replied 5 years ago.
Hello, I have rented a lot to factory for over 20 years so I understand your problem. The approach I took at the time was what is the space worth to me at that time a 1/4 acre lot was woth $150.00 and since risen to $400.00 but there are alot of variables. Here would be my approach, let them make the first offer, if its reasonable at all check with a local real estate agent and see if they have a comparable in your area. In other words do they know of a lot that is being rented in your area to compare it to. If it is well above what you were expecting then accept the offer with adding a few conditions: 1. They are responsible for lot maintenance and 2. They need liability insurance that will protect you in case of an accident. My lot is not worth the $400.00 a month I'm getting but that was what offered at renewal. Thank You Tom
Customer: replied 5 years ago.
THANK YOU, XXXXX XXXXX have a sample contract that you can let me copy?
Expert:  TaxTom replied 5 years ago.
I don't, I pickup up a contract at my office supply. Thank You Tom
TaxTom, Internet Researcher
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Experience: Years of experience of finding questions for employeers, family and friends.
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