Renting yards to construction company - damages

jooksavage

Renting a yard to an engineering firm at the moment. They're using it ad a compound for material and machinery on a large local job. I've been advised that they will repair/replace anything damaged (walls, gates etc). A pair of gates already been knocked and the foreman has asked me to send invoice for same to themselves - they'll cover it in the rent. Not ideal - I don't want to end up getting taxed to replace something they broke. What is the typical way incidents like this are handled?

Kaisr Sose

Absolutely make sure it's not paid in rent ...it's not income. Ideally they pay the invoice for you.

Have you photos of before they arrived?

Donald Trump

You'll have the receipt for the expense.

Citizen Six

If you did pay for it yourself, and invoice them, then surely it would be a tax write off anyway?

Suckler

Am I wrong in saying they are looking for you to do the repair work and invoice them, which they'll pay along with the rent?

If so I'd be refusing that and telling them to get it done themselves, If you have a contact for the gate supplier/manufacturer to help them source a replacement that's all I'd be giving them.

have2flushtwice

Have this a lot. Give him the quote and get it approved.

Cover yourself well.

Dont be at a loss in any sense.

Either he approves the cost up front or he's out.

If he doesn't pay, he's out.

OOtherwise He repairs it.

elperello

Have you got a written rental agreement ?

That should cover it.

A separate invoice to cover the cost of you getting the repair done would be normal.