Renting rooms to other therapists

[tingle]

Hi

I have been looking for a room or a shop to rent so that I could keep my work and private life separate. At the moment I have a summerhouse at the end of the garden and it is just me doing the treatments.

Today I went to see an office that was advertised on gumtree and to call it massive is an understatement. There are 9 rooms, 2 toilets and a small kitchen aswell as loft storage and is on the first floor.

A bit much for me myself lol and I had thought of one other therapist but the potential of this place could be quite good.

If I rented the other rooms out how should i go about this e.g contracts or deposits and things like that.

And what should i look out for ?

I can understand the business side of things but dont want to get bitten in the bum by something I may have missed in the excitement of setting this up.

I am still not sure whether to go for it as ultimately I am responsible for the rent and all other costs.

Do you think it is feasible or am I biting off more than I can chew?

Sorry its so long

Any advice ?

Lisa

 

[persianista]

You may struggle to find other therapists to rent off you if there is no shopfront and they will be in competition with you for clients.
If it is offices at the moment you need to ensure you can get change of use.
If you work your business plan with just your income, any extra rental income is a bonus, but you cannot rely on it to cover costs.

 

[tingle]

Hi

I did have concerns about there being no shop front.

I was also thinking of getting people who complemented my therapies rathter than competing with me.

Not sure about the change of use as it is just the first and second floor of a building so would this still apply.

Thanks for your help as I dont think I could manage to cover all the rent and rates and so on by myself and i am worried that i may be left high and dry by other therapists not for any particular reason but the responsibility would be mine alone.

hhhmmm definately one to think about. Just a bit too much at the moment I think.

Thanks again

Lisa

 

[jes]

Hi, yes you'll have to apply for planning permission to change an office to an retail area. If it gets permitted it will, definitely, increase it rateable value and probably its rent.

 

[tingle]

Hi Jes

Thanks for your reply. I did wonder about change of use but thought it would still be the same and didnt realise you would need planning permission.

I have decided with both your comments that i am a bit too far in over my head. Thank you both Jes and persianista.

lisa