I wanted to throw a question out there to everyone. I rent a 1200 square foot shop space in Ft Worth and had an idea. Getting a commercial space is a real hassle. I wanted to gauge interest in commercial spaces that don't require a certificate of occupancy and are reasonably priced and set up with several 110 outlets, 220v, no real restrictions. I was thinking for guys that run small fab shops/auto shops, car clubs clubhouses, motorcycle, auto body etc. I had the idea that the tennant base should be all auto related so that everyone was like-minded and hopefully respectful of others belongings, project cars etc. Depending on property size I would like to put in a gated and locked area where project cars, trailers etc. Could be stored. Just a thought and wanted to gauge interest in this in the dfw area. It is something that I have always wanted to do an seems like it would be very fun. Please post your thoughts good or bad!!!
CAN OF WORMS Consider if it is your name on the master lease or the mortgage papers that your monthly "NUT" be covered by the rent generated by 60% occupencey(10 units with at least 6 rented by "PAYING TENENTS") A body shoppe next to a car detailer is not going to work A shoppe that doubles as a meth lab will be trouble One mans trash is everybodys trash Sombody is always going to be inconveinenced Who was the last one out that didnt lock the gate? Are you going to let a tenent "LIVE" there? You need a diverse tennent base, one that compliments, not simulates The units I am in list as 1)Hobby racer- works another job and not seen every day 2)4 wheel drive shop-messy but has a forklift that we all use and live there (security) 3) me - fab shoppe(nostalgia racecars) 4)retired machineist-making widgets 5)Hobby shoppe- retired DR. playing with go-karts 6)Fab shoppe (import racers mostly) 7)personal storage-will be empty soon 8)personal storage-pack rat I have done work for 5 of the tennants but have never taken work away from them.
Yea i know the liability would be an issue. Maybe set it up like my shop where I had to get a co and get my space inspected etc. Which it was a hassle but makes me ultimately responsible for my space. The commercial area that I am at is pretty cool. 3 2 choppers is there and there is another bike shop across the street etc. My landlord is really laid back so as long as I am not doing anything too outrageous he is cool. I wanted to mimic what he is doing but gear it towards 100 % automotive/motorcycle/fab etc. It is cool at my place to walk over and see what 3 2 is building and they stop by my place and shoot the bull sometimes. Just was thinking that if the whole building was o the same mindset that it would be a great place to be.
Great idea but , the liability insurance would kill you alone . Then consider this , someone gets hurt or looses their life using something like electric that you supplied or a lift you have for people to share in your building that you rented to them . Then you end with with family wanting to sue you for everything you have and will pay , for the rest of your life ! It's sad to think like that but it's the nature of the country we live in now . It's a sue happy world and you will be a sitting duck for the next one ! No matter what papers you have them sign and so on , some damn smart lawyer will find a loop hole to get you on . Then you will also have to live with the thoughts of someone loosing their life or getting hurt really badly on an idea you had to help someone else out on ! Then you have to consider the tenants you rent to . Are they honest or out to take what they can . That means you need good security cameras all over the place to keep an eye out on it for you . Then like someone else said , Who Locked the Door Up LAST ? That means a key card to get in and out of the building so you will know who is there and when they left . There is a ton of things to consider when renting to the public ! Hope you figure something out to help someone have a place to work on their rides ! Great idea for the 1960's and 1970's but in todays world , I would think of something else . Retro Jim
Some great points have been made, but I think everyone is being a little over cynical. Yeah, I know, I know we do indeed live in a world of thieves and in a society that is massively over-litigious. But damn, everyone being terrified to take a risk because of such things is a major reason why things don't get done. I like the guy's idea, but it needs to be fleshed out a bit more. And I think that in the most realistic sense, it would have to be more of a partnership than a lessor-renter situation. You'd have to find folks that were of the same mindset and that were on the same page...or else all those negative things spoken of in other posts would happen for sure. There is a load of liability involved though and a lot of R and D if you are seriously thinking about giving it a shot.
One cannot be cynical enough. My voice is from years of "been there-done that" Here are some more--- You can choose your tennants but not their freinds I thought it was Ok to paint my car inside Hey who was supposed to buy toilet paper this month sorry dude but I cant pay you till next week (code word for next month--maybe) Is it okay for my cousins wifes ex brother-in-law to store his trailer here for a day or so (again code for permanitly) Dont confuse "Intrest" with "Mindsets" two totaly different concepts
A few friends and I tried this years ago, it cost friendships, money, fights, lawsuits and every other nightmare you can imagine. Share your forture with 1 buddy but 3 or more people will turn sour quickley. Think of car-club BS (in-fighting, whiners, slobs, snobs, etc) it ain't a pretty picture.
The Jalopy Journal
