Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago on . Most recent reply

User Stats

653
Posts
768
Votes
Ryan Evans
  • Rental Property Investor
  • Cleveland, OH
768
Votes |
653
Posts

Free garage space rent in exchange for maintenance?

Ryan Evans
  • Rental Property Investor
  • Cleveland, OH
Posted

I've got a property with an unused detached garage and a next door neighbor looking for storage space. He's offered free monthly lawn maintenance in exchange for using the garage to store his Salvation Army donations, tools, etc. 

Seeing as I'm going to be running it from out of state and probably under property management, it makes sense to me to utilize the space and not pay lawn care fees. 

I'd love to get some thoughts on the best way to formalize an agreement like that. Should I do a month to month storage unit lease agreement laying out the ground rules like not disturbing the tenants and using it as a workshop? Then a second agreement for property maintenance? 

Is there a way to make a legal arrangement for something like that? I want to make sure it's on the up and up to not run into legal issues or if he's not holding up his end of the bargain i can kick him out. I want to make sure I don't have insurance issues as well since he's not licensed. Would love to get some opinions! 

Most Popular Reply

User Stats

3,930
Posts
3,341
Votes
Max T.
  • Investor
  • Philadelphia, PA
3,341
Votes |
3,930
Posts
Max T.
  • Investor
  • Philadelphia, PA
Replied

Yes use a contract.

Charge him rent for the garage. 

And pay him for the maintenance. Keep it businesslike.

Loading replies...