Garage security deposit

[Tim Marshall]

What is an average security deposit for a garage rental?

[Joel B.]

@Tim Marshall,

When I hear dirt floor and working on cars, my biggest concern is the environmental issues you might run into in the future. If you have a mechanic in that garage for several years, think about how much oil, petrol, and other chemicals might seep into the ground. Then, if you want to turn around and sell the property, how much would environmental remediation cost you when that tenant leaves? The security deposit should cover most of your cost getting the unit back into rentable shape once your tenant left. If you're really doing a mechanic in a dirt floor garage, I would be tempted to do a much higher deposit due to the potential environmental impact you would have to deal with.

Hope that makes sense.