Shed Rental

[Rossymons]

I've been approached by 2 local interested in renting our sheds as a lock up for their equipment. One would like to site a container there. Both respectable people who i'm confident won't be an issue. Water but no electric but that can be sorted out if necessary.

I want to charge them a fair rent without fleecing them. My thinking is a reasonable rent will probably mean odd jobs I want doing around the sheds - guttering, boarding etc - will probably be done as a favour. Plus a fair rent will probably keep them there for a long time too.

Haven't a clue what I should be charging though! Any ideas?

 

[Goweresque]

I would forget the 'favours' part of it, thats just liable to cause resentment on both sides, either because the tenant gets fed up with getting 'to do' lists from you, or you get fed up with asking for stuff to be done and nothing happening. Put a figure on it that allows you to pay for odd repairs etc to be done and leave it at that.

 

[Clive]

I've been approached by 2 local interested in renting our sheds as a lock up for their equipment. One would like to site a container there. Both respectable people who i'm confident won't be an issue. Water but no electric but that can be sorted out if necessary.

I want to charge them a fair rent without fleecing them. My thinking is a reasonable rent will probably mean odd jobs I want doing around the sheds - guttering, boarding etc - will probably be done as a favour. Plus a fair rent will probably keep them there for a long time too.

Haven't a clue what I should be charging though! Any ideas?

£4.50/ sq ft plus rates and utilities bills

don’t forget the appropriate change of use planing required

 

[Clive]

20ft Container , £25/week your container, £15 if they supply

 

[Wurzeetoo]

Whenever I’m trying to get a rental value I do a search on rightmove. It will give you a rough comparable figure, then just work out what you would be happy with. Small lock up workshops in North Devon seem to be excessively overpriced. Dad just moved out of one Size of a double garage without a toilet fitted, electric on a coin meter. That was over £500 a month

 

[Clive]

Whenever I’m trying to get a rental value I do a search on rightmove. It will give you a rough comparable figure, then just work out what you would be happy with. Small lock up workshops in North Devon seem to be excessively overpriced. Dad just moved out of one Size of a double garage without a toilet fitted, electric on a coin meter. That was over £500 a month

it’s not overpriced, it’s the reality of prices outside the never inflatIng world of agricultural output I think !

 

[ewald]

Very localised market - rents can vary depending on local demand - try to get a feel for what others are charging, don't undersell yourself though
Agree about the problems from tenants doing odd jobs - better to charge a market rent and pay them for anything done

Have you got change of use on the buildings?

 

[Pieces_of_Eight]

I'd be adding a bit on if someone wants access out of office hours.

 

[Rossymons]

Very localised market - rents can vary depending on local demand - try to get a feel for what others are charging, don't undersell yourself though
Agree about the problems from tenants doing odd jobs - better to charge a market rent and pay them for anything done

Have you got change of use on the buildings?

No. We haven't got that far in proceedings just yet. One asked on Thursday and the other yesterday lunch time.

At the moment they are redundant livestock sheds on an offsite. There would be some cosmetic work to do - clearing out a couple gutters and some yorkshire boarding to put back up - to make them appealing to any other than these 2. One thing we had considered was offering storage there on a more permanent basis though but as of yet haven't taken that idea further.

 

[puppet]

20ft Container , £25/week your container, £15 if they supply

Price to site a skip?

 

[Clive]

Price to site a skip?

Depends on size, £10 for a regular size one, 25 if it’s a big shipping container size thing

 

[jackrussell101]

Anywhere from £3.50 to £5 a sq/ft per annum

 

[puppet]

Price to site a skip?

Depends on size, £10 for a regular size one, 25 if it’s a big shipping container size thing

So 12 cans of beer and some wine doesn't really cut it?

 

[Clive]

So 12 cans of beer and some wine doesn't really cut it?

if you are running a business rather than having a party ...................... no

 

[deleted user 837354]

I wouldn't want the grief of having these tenants operating alongside my farming activities and outside office hours especially. A slew of them operating together on a site separate to my own farm business would be different though.

 

[puppet]

if you are running a business rather than having a party ...................... no

To be fair he is an electrician so does some repairs and wired a shed.
And it was a nice wine...

 

[MrNoo]

I have found containers are like a magnet to the Caravan Club, regardless of what's inside them or not, they will spend an age trying to get inside them. Best of bang a shed up, certainly more secure but if the Caravan Club are not an issue, I charge £1k/40ft/yr they supply.

 

[deleted user 837354]

I have found containers are like a magnet to the Caravan Club, regardless of what's inside them or not, they will spend an age trying to get inside them. Best of bang a shed up, certainly more secure but if the Caravan Club are not an issue, I charge £1k/40ft/yr they supply.

Not only that but containers are a bleeding eyesore IMO.

 

[I still farm]

How secure are your sheds that are getting £4.50 /sq ft?
I've been starting to rent out some that were open sided , and realising that for my circumstances passive income could be a good earner.

 

[kiwi pom]

it’s not overpriced, it’s the reality of prices outside the never inflatIng world of agricultural output I think !

It doesn't mean those that are renting them are making huge amounts of money though.
There's probably a forum somewhere, where tenants are complaining about their high rent costs compared to the money they can make.