Legal and Insurance advice needed (corporate)

Rogodin2

Banned
Jul 2, 2003
3,219
0
0
I need to know, if I'm out of lease and paying month to month, if the current lease has a rider (that isn't there in the lease itself-from what I read), to include the duration of time when the company is paying rent and out of lease that defaults to an automatic continuation of a lease agreement?

I've had an offer from a local businessman. He would like to store three of his muscle cars in the back of the building I rent. I have a half million state farm policy that covers anthing that happens to the building and our corporation. When I talked to the gentleman he said he'd be willing to talk to my attorney and write a contract that would posit onto him all %100 liability if anything happened to his automobiles.

When I called my landlord and told him what I wanted to do he first suggested we split the amount that this businessman is willing to pay me for the rent of my space (which was included in the contract-square footage is mine-it's just not used). When I said no he brought up two pionts. The first was that he'd need to call his insurance and have it checked out because the storage within a building of tanks of gasonline might make his fire insurance invalid-secondly, his wife would need to okay it (it's the usual schuk and jive).


I really want to move our company-but if I can make $200 per month for storing some cars-which the landlord agreed too when we first signed lease-can I do it when there is no lease riding?

Thanks

Rogo







 

FelixDeCat

Lifer
Aug 4, 2000
31,163
2,751
126
A few things come to mind -

How much are those cars worth? Will he want 24 hour / weekend access to them? If they are stolen, whos on the hook? Beware of insurance scams. Warehouses seem like easy targets if the price is right.

Your contract should mention subleasing. And if you really want to leave the place anyway, maybe a better place awaits you, so it wouldnt hurt to at least look around.