New 3 year lease agreement for the makerspace building!
TLDR; we have verbal agreement with the building owners for an awesome lease for three years
As you might know we were in the process of negotiating a three year rental agreement with our building owners Kevin and Natrisha. This morning Natrisha dropped by makerspace and we had a good conversation about the current state and future of makerspace. They are very excited about what we are doing and the two main directions we are focusing on: education and hardware incubation. Natrisha recognizes the growth and is very happy with the current state of makerspace and she sees a great potential in us to grow even more. She wanted to make it clear that they want to support our cause and that they were flexible in developing a long term agreement that would work for us and would reduce the stress on our membership.
Here is the gist of agreement that we have:
For the month of June we will pay 1150$. For the next months we will pay using the following formula (still to be finalized in writing):
- Minimum (base) rent is $1150
- If 30% of our cash revenue in the previous month is larger than $1150 that would be the base rent
- When we rent any one of the three rooms on the second floor; the rent from those rooms will be added to our base rent
- Maximum rent is $2200 (to be finalized in writing)
This is to reduce stress on us in case we have a slow month here and there. Our rent would only increase if we either rent any of the three rooms on the second floor, or we get enough cash flow that 30% of it is larger than 1150$. Natrisha wants to give us the opportunity to rent the rooms to our membership.
I am going to merge this into the current work in progress lease agreement and will sit down with Natrisha and sign it sometime in the next few weeks. Once I have the full written lease agreement, I will post it here and will create the final motion to pass the lease agreement.
- Yes this deal allows us to stay cash positive and financially stable
- Yes this is an incredibly awesome deal
- Yes Natrisha and Kevin are awesome
- Yes I am so happy I don’t know how to express my gratitude
Congratulations everyone for all your hard work so far. If you have any comments or suggestions feel free to talk to me or reply here.