Thread: does anybody rent out their home studio?

My husband and I are finally moving to a home that will have space for a small home-made dance studio. I know studio rental in my area is tight and I would love to offer my place as another option to students and teachers. This is a ways away from now, but I've been thinking about it. Does anybody do this? Do you have any experiences, suggestions, or even ethical tips you could pass along?

Obviously I will research what other studios ask, but should mine be different because it is not a "true" dance studio? Or maybe it is, who knows. I'll have mirrored walls, carpet until we can afford flooring, a stereo until we can afford surround sound, accessibility from outside (so no one would need to knock on the front door to get to it), etc.

Just want to do it right : ) Thank you.

Congrats on getting a new home!

One thing you will need to check is whether you are zoned for mixed use/commercial or if there are any homeowner's restrictions on operating a business at the location. If you are allowed to use the location as a studio, you will need to check with your insurance to see if you need separate coverage for that type of use.

Beyond that, I have not had a home studio that I rented to anyone outside so I don't have any good info - maybe someone else has something good! :)

Originally Posted by mahsati

Congrats on getting a new home!

One thing you will need to check is whether you are zoned for mixed use/commercial or if there are any homeowner's restrictions on operating a business at the location. If you are allowed to use the location as a studio, you will need to check with your insurance to see if you need separate coverage for that type of use.

Zoning is definitely an issue. In my city, I'm allowed a home-based business that doesn't significantly affect the neighbors. For BD purposes, I couldn't conduct classes with 12 people in them on a regular basis because that would affect parking on the street for everyone; on the other hand, I could probably get away with hosting a one-off workshop for those same 12 people and it would be fine -- just like having a party with 12 guests -- but I couldn't do it very often. I could probably even rent my studio to other dancers occasionally, especially if it was one or two at a time.

Insurance is a must-have. You must have liability insurance separate from your homeowner insurance. Some companies allow you to attach a rider for business pursuits or create an "umbrella" policy that covers all activities in the home; other homeowner companies will require you to purchase a separate policy; usually a separate policy is less expensive when you get one through a dance-specific insurance company. You need a minimum of $1,000,000.00 in coverage; I'd suggest $2,000,000.00. Really look at the policy and what it covers; some basic policies will cover only your classes and students, but not renters or other types of money-making business, even if directly related to dance. If anyone wants to use your studio to sponsor a worshop, for example, that person would need to provide his/her own liability insurance -- just like the insurance I have to purchase when I hold my dance festival.

It saddens me that we must spend hundreds of dollars for insurance coverage that most of us will never use . . . we are such a litigious people now -- but I can't lose my home because somebody got a hangnail from opening a door!

Deborah

Thank you ladies. This is incredibly helpful, and exactly what I needed. I'll be doing some research. I would love to hear other responses if anyone else has advice.

Thanks again...

I have heard from others that they make people sign a waiver which states you - your house - and grounds surrounding the house are not liable.

Also - I would be protective of who you let in.

That being said - I think the occasional workshop would work. Also - if you started a dance troupe (which you should) it would be a great place the practice.

Also - you know I am so renting it from you!!!

;-)

Originally Posted by ravenadesigns

I have heard from others that they make people sign a waiver which states you - your house - and grounds surrounding the house are not liable.

Also - I would be protective of who you let in.

That being said - I think the occasional workshop would work. Also - if you started a dance troupe (which you should) it would be a great place the practice.

Also - you know I am so renting it from you!!!

;-)

you are wonderful : )