Hourly rehearsal studio rental - Nashville, Los Angeles, New York

8 Replies

Does anyone own and or manage such a property. specifically for music and/or theater?

Trying to learn more about any experience regarding the numbers and general upside / downside of the "managing the people" part of business. Thanks!

There are quite a few in the Berklee College of Music area of Boston, most have existed for decades. I'd imagine it's not easy to make money on them since most of your clients aren't wealthy are doing it for love of the craft. the real money would be in building out these theater or studio spaces, but as a rental you won't expect great upswings in your cash flow but you would be likely immune to downturns in the market

Originally posted by @Ravi P. :

There are quite a few in the Berklee College of Music area of Boston, most have existed for decades. I'd imagine it's not easy to make money on them since most of your clients aren't wealthy are doing it for love of the craft. the real money would be in building out these theater or studio spaces, but as a rental you won't expect great upswings in your cash flow but you would be likely immune to downturns in the market

 Interesting. If the ones by Berklee have existed for decades, that could mean (barring refi-ing etc), the underlying mortgages might have been paid off? That's a toss up.

The ones in Los Angeles (downtown, Glendale, Hollywood etc) some old some newer tend to be booked for months on end and the weekly rentals aren't exactly chump change.   That's where the curiosity is coming from. 

@Francis A. Reviving this as I was searching for investors that have considered music rehearsal space. We actually have two locations in Dallas and I’d be happy to provide any input you might be looking for still.

@Lance Lewton Yeah, it's still going well for us here up in Dallas. We were very concerned when the pandemic hit in March. We didn't know what to expect. However, we didn't lose any tenants due to it and were very proactive in our handling of it. We did shut down our Hourly Studio for a couple months until we felt it was safe enough to reopen it under the right protocols. Since we've been back opened it has been going well. I'd be happy to talk to you more about what we're doing. Who knows, maybe there's a way we can work together on it? Our facility is musicboxrooms.com if you want to see a little more about it from the customer-facing side of things.

@Francis A. I lived in NYC for 15 years and frequented all of the pay by the hour rehearsal studios. Off and on I had a lease at “the music building” on 30th and 8th and even lived in my studio for a while. Funkadelic was another one we went to often. And Rivington. There was also one in LIC but I don’t remember that name.

I don’t have any advice for you but it sure does bring up memories of drinking too much and wasting my time having fun.

@Tyler Faison   Hey, I turned off my notifications and just noticed you replied.  

Checked out your site and it looks like y'all have the same set up I envisioned.

Apply online for instant access via key pads among other things.

I'll shoot you a message soon and we can chat.