I have a 50 acre family farm in NW GA with a 3br 1ba house on it. The house is run down but decent enough, it's an old 2 car garage that's been added on to, the original house burned down some years ago. For the past 15 years I've rented to the same people, and they have recently moved out. I was contacted by an old acquaintance of my family that wants to rent it out and use it as a lodge or hunting club of some sort. I'm sure he would want full hunting rights to the property, and want to sub-lease lodging and hunting rights to whomever.
Normally the house would rent for 300-400$ a month without rights to the land. I don't know much about this subject, I kinda have an idea of how it works, but have no idea of pricing or any liability that might come with it. Would I have to have some kind of special insurance, waivers, or any kind of special leasing agreement. I mean this guy could make a killing off my property with some hunting club because I low-balled an agreement, then someone gets accidentally shot on the property and I get sued. I have no idea what kind of offer to consider or any liability concerns there might be. Any insight and advice would be greatly appreciated, thanks ODT Family.
Normally the house would rent for 300-400$ a month without rights to the land. I don't know much about this subject, I kinda have an idea of how it works, but have no idea of pricing or any liability that might come with it. Would I have to have some kind of special insurance, waivers, or any kind of special leasing agreement. I mean this guy could make a killing off my property with some hunting club because I low-balled an agreement, then someone gets accidentally shot on the property and I get sued. I have no idea what kind of offer to consider or any liability concerns there might be. Any insight and advice would be greatly appreciated, thanks ODT Family.
