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Renting Out Extra Garage Spaces

Discussion in 'General Automotive Discussion' started by smj113, Oct 7, 2010.

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  1. smj113

    smj113 Karting

    Oct 23, 2007
    190
    Philly Suburbs
    #1 smj113, Oct 7, 2010
    Anyone ever done this at their house? Wondering how you handled insurance for the cars? Did they pay you directly, or did you set up an LLC to protect you from liability? Any tips/thoughts/experiences would be appreciated.
     
  2. leead1

    leead1 F1 Rookie

    Nov 29, 2006
    2,828
    Florida
    Full Name:
    Lee
    #2 leead1, Oct 7, 2010
    I rented a garage from a freind for 1/2 year. I paid at the beginning of each month. I had to carry all the insurance so he had no liability.

    I have many cars now so I rent a 40 foot X 120 foot area. My insurance co has inspected the area and approved it since they carry the responsibility for fire and theft. It is a large storage area in addition to my space and has many security measures including 2 police officers qho live at the location.

    If you are thinking of renting your garage space. Unless you know the person I would not do it for a host of reasons.

    Good luck

    Lee
     

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