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In a few years, the rental lease for our garage ends. It is large enough to rent spaces to the public. We know that there are generally three options: rent it out again; hire a management company to run it for you; Run it yourself. We are interested in the last two options.
Does anyone have any perspectives in either running it yourself or hiring a management company to run it for you?
Thanks!
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We have used outside operators for years with minimal problems. There tends to be greater turnover in garage staff than in building service workers. Also a large operator can provide incentives for monthly parkers to park outside of the garage at their other facilities elsewhere in the city, such as in the theatre district, etc.. Also, they can attract daily parkers through their marketing which can increase the payments to your building if you have a shareing arrangement in your lease.
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