Renting Out RV Storage Space At Home?

OpenRangePullen_Ford wrote:
As the insurance goes you wont need it if you get them to sign a liability waver that states your not responsible for any damages.

Should a major loss occur, those waivers are not worth the paper they are written on. It can and will cost someone 10s of thousands of dollars to even try and enforce the waiver in attorney fees. Even then, it is likely the waiver will be ruled invalid. The injured party is almost assuredly going to argue "gross negligence" which can never be waived.

OpenRangePullen_Ford wrote:
As the insurance goes you wont need it if you get them to sign a liability waver that states your not responsible for any damages.

I'd at least get general umbrella insurance. A damage waiver may hold up in court, but fighting it is a PITA and one doesn't get most of the court costs back, so with insurance (which isn't too expensive), the insurance co does does the pummeling for you.

OpenRangePullen_Ford wrote:
As the insurance goes you wont need it if you get them to sign a liability waver that states your not responsible for any damages.

Exactly why you need expert advice. You rely upon some guy on the internet telling you all you need to do is get them to sign some paper ... long story short, you end up with some "renter" owning your farm.

Our friends rent out space. You need to talk to these people..

Lawyer...Insurance Company...Township offices, permits...It is also a good idea to talk to people on the adjoining properties. They may have concerns about strangers in the area that might cause them issues. This could prevent future agony with the people next door.

Good luck if you decide to go ahead!

As the insurance goes you wont need it if you get them to sign a liability waver that states your not responsible for any damages.

1: Get a lawyer.
2: Get insurance.
3: Make sure the cost of above two is reflected in the rent.

I wanted to do the same thing. You need to talk to a lawyer, there were way to many liabilities and "what if" for me to take on. There are many things I never thought of.

Wow, where to start. We did this for pontoon boats and found out a lot of things both plus and minus. The very first step is to contact your insurance company and zoning. Your insurance company may refuse to cover the liability or if they do, will require a substantial liability rider. Zoning may prohibit this use of your property, even in a rural area. We found that a flat rent for a total time period paid up front worked best. I would avoid a monthly rental as it is just too much work and record keeping. We offered the storage space for a 6 month period Oct-March for $300. The contract spelled out liability issues and what would happen if the boats were not picked up. We opted for a lien on the boat, not a forfeiture of ownership.. Luckily, we did not have to deal with any issues like this. The legal process to gain ownership is just too much work. A lien prevents the owner from selling without the lien being satisfied. No discounts for early removal. There will always be at least one who will attempt this. We also asked for a copy of the owners insurance coverage. It really had no bearing other than to give us a bit of encouragement that we were dealing with an owner that was conscious enough to protect his property. All in all, it was a profitable use of our property.

You need real, expert advice, not some wannabe from this forum.

Moved from ATC