Hi Samantha,
It seems to me that the "details" (who's responsible for what) should be the same regardless of the yearly lease amount (which is customarily paid in monthly installments as rent.)
If the landlord is discounting the rental they are probably going to reflect this on their side in their tax return as a donation.
And your organization will probably consider the yearly lease amount as both a donation and an expense with the donation amount the difference between the true market value that landlord would normally get per square foot and whatever you've agreed to as the discounted amount. It could be a 100% donation where you would probably just need to pay a nominal amount for the record, like a dollar.
Again, depending on what part of the country you're in the "who's-responsible-for-what" should include basic items of responsibility and information for: snow removal, heating costs, general electric to building, water, appliances or equipment within building (water heater, any A/C units, boiler, kitchen appliances), plumbing, landscaping, garbage removal, alterations & improvements to interior & exterior, requirement to carry certain insurance (both owner and lessee), general maintenance to included equipment, repairs to included equipment, parking, noise, "quiet enjoyment" or possession, renewal terms, entry to premises by landlord/owner, damages, security deposit, condemnation, subordination, direction for Notices, common area use, taxes, environmental restrictions, AND more lol!
There are many lease templates available online - you should read several to get an in idea of what is customary and perhaps a board member or friend of Spring Hill is an attorney and can guide you. You should also speak with your accountant to discuss any tax implications.
Good luck! It seems this new space is badly needed-
Barbra BroidyMA Museum Studies, JHU(and former lease negotiator/writer for a development company)
-----Original Message-----
From: Samantha Smith <[log in to unmask]>
To: MUSEUM-L <[log in to unmask]>
Sent: Mon, Jan 21, 2019 11:51 am
Subject: [MUSEUM-L] Landlord-Museum Question
Hello All,
The historic home I work for is talking to a local landlord who is
interested in letting us use one of his buildings to take our office
and storage out of the house, and have a presence in a more populated
area of our town.
Neither of us has gone through something like this, where the landlord
either rents the building as a donation or for a very low fee, so
we're floundering at some of the details. Does anyone have experience
with this? A template of what each party has been responsible for?
I'd love to hear some feedback from those of you who have done
something similar.
Thanks,
Sammy Kay
Samantha Kay Smith
Director
Spring Hill Historic Home
[log in to unmask]
330-933-1298
@sammykay118
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