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Updated over 1 year ago on . Most recent reply

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Santos Gloria
  • Houston, TX
6
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Help! Land lease for truck parking

Santos Gloria
  • Houston, TX
Posted
I was recently contacted by a small moving company who wants space to park their trucks. I'm not sure where to start and I havent been able to find much information online. The vacant land im leasing is 1/2 acre, no restrictions. I have a couple questions, should I rent it out by the truck or just lease them the whole 1/2 acre? Would there be a difference on the insurance, on my part? The owner of the moving company also said he would pitch in to pour gravel down as long a I gave him a year lease. Thank you in advance.

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Ronald Rohde
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
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Ronald Rohde
#3 Commercial Real Estate Investing Contributor
  • Attorney
  • Dallas, TX
Replied
Originally posted by @Santos Gloria:

 Thanks for the reply @Todd Faulk

I own the land out right, I had other plans for it that fell through so for now this seems like a good option. I did hear about environmental issues like that, I'll have to look into it. The current owner does have the trucks stored somewhere else and is on a month to month lease. I'm meeting with him tommorow, so I'll see how much info he's willing to share. Thanks for the tip on calling other moving companies.

 Just have a good lease agreement specifying what the tenant can and can't do, terms and responsibilities, etc. I would suggest a lease for the entire lot so there is no dispute or effort about how many trucks were parked for how many fractions of a day.

Is your lot fenced? Security may be another issue of possible liability. Insurance is also important to make sure your policy is updated.

  • Ronald Rohde
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