Hello Everyone,
For the past couple years I have been renovating a large building I purchased with some friends and have carved out a shop with about 3,400 sq. ft. of space for myself.
I rarely use the entire space and so have been thinking about renting bench space to another woodworker or perhaps two. They would use their own hand tools but we would share the larger machines which I have plently of.
I wanted to see what experiences you have had with this and how does one arrive at a monthly rental fee?
Thanks!
Tom
Replies
where is the shop?
3fingers,
The shop is in downtown baltimore, ground floor, with high ceilings, heat,
and off street loading access.
The shop is going to be upgraded over time with a 3 hp Onieda system being installed and low bay lighting on the list for the coming year.
Thanks,
Tom
I currently rent bench spacae myself. It's a great deal for me cause I get access to all the tools including panel saw edge banding and soon 36" belt sander. BUt I only use it a few afternoons/evenings a week. Check FWW, there is curently an ad for bench space in Brooklyn. Also check the buletin board at your local hardwood yard woodweb.com and Woodshop News
JW in NY,
Thanks for the reply!
Would you mind divulging what you pay for rent and how much space you are allotted? Just trying to get some idea of fair prices. Of course NYC real estate is a lot more expensive than here in Bmore.
Thanks,
Tom
I'm paying $200 and have no real allotted space. I have my bench which is on casters and it may be in a different place when I get back. I'm making some small furniture pieces, no big cabinets, so it's not that big an issue.
Thanks JW,
If you don't mind could you fill in some more details?
Do you get any storage space besides the rolling bench?
Do you provide your own handtools such as planes, chisels etc.?
Do you like having other woodworkers around to see what they are
doing and vice versa?
Have a good Holiday!
Tom
IronDog,
Sounds like a fine idea. Just please get appropriate insurance. It will probably be a good idea, also, to have anyone else who uses the shop to sign some sort of waiver, one written by your attorney. Ken
Ken,
Those are some excellent points.
It would probably be a good idea to give any prospective tenant a quiz, on for instance the causes of kickback and how one prevents that.
Thanks a lot!
Tom
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