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Updated over 6 years ago,
lease parking to a church what do you think?
i recently purchased a commercial property with two homes and .75 acre lot. A big portion of the lot has a existing church parking lot attached to it with 32 parking spaces. There was a previous agreement that i inherited that stated they can use the lot until future development. Im not a fan of having people park on the property for liability reasons even tho i have a good insurance policy. I have approached the church about leasing them the lot for continued use. i dont want to sound like the Devil here but they need the parking and without any compensation i am forfeiting the potential of any development on the lot. i really dont have any immediate plans for any development especially if they would lease the lot and of coarse the church is pushing back on any kind of lease to use it. they offered me to donate the lot for them to use as a tax right off but not sure how beneficial that would be. what do you guys think?