How much should I pay to rent fully equipped shop space?

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Hello, Everyone.
Recently, I had the great fortune to meet someone while shopping at a Home Depot who has a small workshop on her property that has stationary power tools and is not in use at the moment.
After looking at the space over the weekend, it is on the small side (about 1000 sq. ft). This shop also comes equipped with a table saw, drill press, router table, miter saw, and band saw.
During our conversation we did not discuss a rental charge and, frankly, I got the feeling that I could use the shop for little or nothing.
However, I do not want to rip off this woman and feel as though I should pay a fair price to use this incredible resource.
My questions for you are the following:
1) If you were the homeowner in this situation, what would you charge for the use of your shop?
2) If you rent out a similarly equipped shop space, what is your monthly fee?
Please respond to me directly as well as to this group.
Thanks.
--
Ed Lomax (edlomax at earthlink dot net)

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If it were me, the rent would be on top of you paying the premium on the hefty liability insurance policy I would have.

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No doubt, eh?
And even though the OP may not be planning to buy it, check the place out for liens anyway. There can be a lot of history there... like previous lessees. Local fire inspectors can be your friends.
Talk to the neighbours before bringing out the cadaver dogs.. *EG*
A little caution never hurts.
r
------------------------
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Sure she is not really looking for a handy man . . .new husband . . . Friend of mine ended up married to a woman on a deal like that . . .
Steve

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Petrified Woodworker wrote:

LOL.. I'll have to suggest that to my sister.. Fill up your basement with tools and then troll Home Depot for guys.. He's not going to leave you in the middle of making his cabinet. LOL
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On Fri, 2 Jun 2006 01:02:09 -0500, "Petrified Woodworker"

Oh great, my wife's been picking up woodworkers at home depot again. I thought we were past this...
All I ask is, don't stain any cherry in my shop.
-Leuf
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Leuf wrote:

Think of all the extra time you'll have while he's whittling away at SWMBO's to do list.
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On 2 Jun 2006 13:45:53 -0700, "A.M. Wood"

Is that what the kids are calling it these days?
-Leuf
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If I were you, I would write up an all-encompassing waiver of liability, sign it, and then give it to the nice lady.
In my area, industrial space is around $8.50 per foot per year, not including tools.

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"Edward Lomax" writes:
>Recently, I had the great fortune to meet someone while shopping at a >Home Depot who has a small workshop on her property that has stationary >power tools and is not in use at the moment. > >After looking at the space over the weekend, it is on the small side >(about 1000 sq. ft). This shop also comes equipped with a table saw, >drill press, router table, miter saw, and band saw. > >During our conversation we did not discuss a rental charge and, frankly, >I got the feeling that I could use the shop for little or nothing. > >However, I do not want to rip off this woman and feel as though I should >pay a fair price to use this incredible resource. > >My questions for you are the following: > >1) If you were the homeowner in this situation, what would you charge >for the use of your shop?
Here in SoCal, you don't want to know.
Probably applies to the Bay area also.
Renting work space is one thing, renting an equipped shop is quite another.
Then there is the matter of a possible relationship between the two of you.
Sounds nice going in, but could develop either into a great deal for everybody or a miserable situation for all concerned.
IMHO, risky at best.
Lew
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An excellent idea.
Will I need an attorney to draft this waiver of liability?
Thank you for the suggestions.
--
Ed Lomax (edlomax at earthlink dot net)

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Absolutely! Even then, it may not hold up.
Dave
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I charge $25/hour for use of the shop and tools. One person at a time only, and I'm always with them. This does not include "expendable" items like sandpaper, rags, or finishing supplies...
--JD

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A lot depends on the access rights you would have. For example, 24/7 with the ability to drive a truck up to the door and operate commercially is one thing. 9-5 monday-friday with street parking is another. Also have to consider things such as utilities: machines use lots of power, AC in summer, heat in winter, running water, toilet, waste removal...
Also depends on your relationship. If you're a single/divorced/widowed and she is in the same situation, there may be other factors at work that can be good/bad depending on your wishes. Also, it's not necessarily wrong for her to be assuming you would be providing some "handyman" services as part of the deal. (A few odd jobs in exchange for a fully equipped shop is a damn good deal IMO) The important thing is to clarify each of your expectations up front. Admittedly, that may be difficult if there are amorous intentions on either side. But that's not necessarily a bad thing either.
Good luck!
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As I envision and understand it, I will have limited access to the shop on weekday evenings and weekends. Although she has a driveway, I plan to park my truck on the street.
I am single and have already volunteered my services as a handyman if she needs them. She is not single and I doubt that she will need my services as a handyman.
--
Ed Lomax (edlomax at earthlink dot net)

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Ok... I have to ask....
What type of things would you make in this "small" 1,000 sf shop? Hobby? Commercial work?
A lot of us would love to have 500 sf... *g*

Mac
https://home.comcast.net/~mac.davis https://home.comcast.net/~mac.davis/wood_stuff.htm
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At present, the plans are to:
a) make a set of bookcases (for a friend) b) make a platform bed with under-the-bed storage (for me) c) make a plant stand for my growing container herb garden
--
check out my Yahoo groups:

http://groups.yahoo.com/group/caught_from_behind
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I agree and consider this find to be somewhat of a dream come true for me.
This is strictly a hobby operation designed to get some furniture built and enable me to gain more experience using "woodworking machinery."
I plan to make a few sets of bookcases and a high-end platform bed (if I can afford the lumber) for my apartment.
--
Ed Lomax (edlomax at earthlink dot net)

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Let her set the price. Space usually rents for a dollar a square foot per month. She might think of a lot better price. Check on regs without bringing attention to yourself, identifying yourself, or telling people what you want to do there. Then dance within the lines so that you don't draw attention to yourself, and have some nosy crabby neighbor shut you down.
Steve
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