I am thinking of renting my garage to a person that owns a n expensive Mustang. Is there anything I should ask for?
Keys to the car?
Is there anything I should be careful about?
2007-04-04 17:22:04 · 5 answers · asked by glenn s 2 in Cars & Transportation ➔ Buying & Selling
There are liability issues, but I don't think it's a bad idea.
You don't need the keys to the car.
Do it like any other property rental. Draw up a short contract. Get your rent money in advance and a small security deposit in case the car or owner somehow damages your garage.
In your agreement specify that if the Mustang owner defaults on paying the rent you may have the car towed away at his expense, unless he removes it after you've issued a 3 day notice to pay rent or quit.
2007-04-05 07:44:35 · answer #1 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
I'm not sure that is such a good idea. What would happen if there where a fire? What about something in your garage falling on to the car and causing damage? If you had the keys and he came to get the car and there was something wrong with it who would be blame? What is he going to pay to store the car there? I would not want that kind of liability for a long time. I store as well as repair classic cars and I have insurance for stuff like this. My storage is simluar to what you would find at a storage facility however it is climate controlled and personal spaces. I do not have the keys to the lockers. but in something like your talking about, I would worry. What would happen if your kid (Or grandkid not sure your age) scratched that car? you would have to pay for the repairs. ?Unless he's a really good friend and you know how he would react and your sure that it's a good idea then do it. If its someone who your not sure about I would not even touch it.
2007-04-04 17:40:36 · answer #2 · answered by gearnofear 6 · 0⤊ 0⤋
I think you have a good deal.
Mustang owners are rightly proud of their noble steed and will appreciate having a good home.
You might, however want to call your home insurance company and ask them if your garage is still insured while being occupied by someone other than the home owner.
2007-04-04 17:38:05 · answer #3 · answered by Anonymous · 0⤊ 0⤋
no one with a mustang is going to pay rent on your garage while you drive their car around its kinda crazy
2007-04-04 17:51:21 · answer #4 · answered by phil_jc_2010 2 · 0⤊ 0⤋
Liability issues comes to mind.
2007-04-04 17:28:19 · answer #5 · answered by kj 7 · 0⤊ 0⤋