Someone takes the risk of leasing a big space, and subletting to other tenants.
This is the business model I use in renting out rooms in my house, and this is the business model that 57 Biscayne master lessee Jane Richlovsky uses in renting out studios at her artists work space project.
The master lessee takes all the risk, negotiates the terms of the lease, often pays for all utilities and common supplies, sets the house rules, advertises for and screens tenants, maintains the common areas, and sets the sub-lease rent rates.
Done properly, the reward for all the risk and work is either a steep discount or free space for the master lessee.
Nifty! Want to live/work for free? Try this. It works!
Happy Investing!
1 comment:
Hi Wendy,
May I also add, another significant reward for one's trouble is choosing your company and creating a wonderful work/living environment for yourself. My tenants/neighbors are dreamy!
Thanks again for coming to see us at '57 Biscayne.
best,
Jane
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