How much to charge to rent basement for backyard camp

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amother

Tue, Feb 11 2020, 10:38 pm

They will be using one big room the bathroom and my fridge.
How much is reasonable to charge.
I’m in the tristate area.

pknt

Wed, Feb 12 2020, 1:08 am

amother [ OP ] wrote:

They will be using one big room the bathroom and my fridge.
How much is reasonable to charge.
I’m in the tristate area.

How many square feet is the room?
Does it have a window?

seeker

Wed, Feb 12 2020, 1:16 am

There is no amount that would be enough for me to do this... think of the potential liability if anything happens - either to one of them or to your property

mamma llama

Wed, Feb 12 2020, 4:28 am

seeker wrote:

There is no amount that would be enough for me to do this... think of the potential liability if anything happens - either to one of them or to your property

Is your basement legal for this purpose? If yes, then liability to the campers is not such an issue. Plus, you can make a contract with the camp head and include a clause that holds her liable instead of you.

The bigger concern for me is that your basement will probably not be in the same condition at the end of the summer. I'm not familiar with the exact numbers, but whatever you decide to charge, please add on a damage deposit! That way, if (when) things are broken, you will have the funds to fix it, and it may incline the camp head to be more on top of things, as she will want her deposit back at the end of the summer.

Good luck!

amother

Wed, Feb 12 2020, 3:44 pm

I had camps there before. My daughter and friend made one.
It’s not legal but it has 3 exits and huge windows and it’s on the ground floor.
Have a lawyer drawing up a contract and the head is super responsible.
I just need to give him a figure.

Thanks for the concern.

Elfrida

Wed, Feb 12 2020, 6:47 pm

Maybe instead of a figure, designate a certain percentage of what she charges for the camp? Maybe something like 15-20% ? Ask your daughter how much money they made to give you a starting point for what would be affordable.

amother

Cyan

Wed, Feb 12 2020, 7:14 pm

mamma llama wrote:

Any shift of liability clause is only valid between the lessor and the lessee; it doesn't affect the injured party. So if someone (chas v'shalom) is hurt, they sue OP, and its her problem to get it from the camp.

Any agreement should require that the camp have adquate insurance naming OP as a named insured; indemnify and hold her harmless; hold all required licenses and otherwise comply with all applicable law. Also demand a security deposit for any damages to your property.

How much? No clue.

amother

Wine

Wed, Feb 12 2020, 7:33 pm

It doesn't matter how responsible the owner of the camp is or how many exits. are in the basement.

In the event a child is injured, you will be sued and you will have no coverage. Potentially you could lose your house since that is probably your only significant asset.

Your homeowners policy does not cover liability because generally the policy is void if you have any kind of commercial activity on the premises. The last time I got my policy, there was a list which asked a lot of questions about how I used it - if I had any employees - if I ran a business on the premises etc.

lora

Wed, Feb 12 2020, 8:03 pm

basements in Brooklyn that have a bedroom and kitchenet go for $750-$850 monthly. without a bedroom I would assume a bit lower or around that.

Fabulous

Wed, Feb 12 2020, 8:09 pm

actually depending on the area they go for quite a bit more. Well over 1000. Also, for short term it might be more.

amother

Jetblack

Wed, Feb 12 2020, 8:17 pm

amother [ OP ] wrote:

They will be using one big room the bathroom and my fridge.
How much is reasonable to charge.
I’m in the tristate area.

I'm assuming you don't regularly use your real estate to generate income.. and you are doing this more as a favor to the person running the camp then anything else.

I would personally ask the camp director to set his camp fees without consideration for paying me rent other than an amount to cover an increase to my home insurance. I'd also make it clear that the bathroom was to be cleaned atleast 3x a day. I'd also ask for a damage deposit.

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