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15 Traps to Avoid If You Lease a Part of Your Church Facility
Manage episode 457594829 series 1601405
More churches are leasing parts of their facilities for both ministry and additional income. Likewise, more churches are making big mistakes in the leasing process. Jess and Thom look at 15 of those mistakes. Listening to just a few of these traps could be a game-changer for your congregation.
-
- Agreement with a handshake (You need to know why)
- Failure to include a mutual termination clause for both parties
- Failure to put in writing “priority access” space
- Charging too little (Yes, even Christian organizations)
- Failure to check if the lessees will violate zoning or land use regulations
- Jeopardizing tax-exempt status (your UBIT matters)
- Poor tenant screening
- Overlooking maintenance and utility costs
- Failure to require the tenant to get liability insurance
- Overlooking security and access control
- Mission drift
- Financial dependency
- Failure to communicate to the congregation
- Failure to have a strategic plan for your facilities
- Failure to consider the neighborhood implications
Resources:
Episode Sponsor:
Focus on your ministry, we’ll focus on the finances.
- Chaney & Associates — The accounting firm for the Church.
- Stop stressing about the state of your church’s finances and start feeling confident knowing you’ve hired an accounting team you can trust.
- At Chaney & Associates, we understand the weight you carry stewarding tithe money which is why we’ve helped over 1,100 churches with accounting & payroll services for over 21 years.
- Save time with our cloud-based software. Access reports in real time. And feel confident knowing you’re working with software that’s the best in class.
- From church plants to megachurches, we’ve got you covered.
- Cumulative Translation Adjustment (CTA): Visit chaneyassociates.com today to get started.
The post 15 Traps to Avoid If You Lease a Part of Your Church Facility appeared first on Church Answers.
339 епізодів
Manage episode 457594829 series 1601405
More churches are leasing parts of their facilities for both ministry and additional income. Likewise, more churches are making big mistakes in the leasing process. Jess and Thom look at 15 of those mistakes. Listening to just a few of these traps could be a game-changer for your congregation.
-
- Agreement with a handshake (You need to know why)
- Failure to include a mutual termination clause for both parties
- Failure to put in writing “priority access” space
- Charging too little (Yes, even Christian organizations)
- Failure to check if the lessees will violate zoning or land use regulations
- Jeopardizing tax-exempt status (your UBIT matters)
- Poor tenant screening
- Overlooking maintenance and utility costs
- Failure to require the tenant to get liability insurance
- Overlooking security and access control
- Mission drift
- Financial dependency
- Failure to communicate to the congregation
- Failure to have a strategic plan for your facilities
- Failure to consider the neighborhood implications
Resources:
Episode Sponsor:
Focus on your ministry, we’ll focus on the finances.
- Chaney & Associates — The accounting firm for the Church.
- Stop stressing about the state of your church’s finances and start feeling confident knowing you’ve hired an accounting team you can trust.
- At Chaney & Associates, we understand the weight you carry stewarding tithe money which is why we’ve helped over 1,100 churches with accounting & payroll services for over 21 years.
- Save time with our cloud-based software. Access reports in real time. And feel confident knowing you’re working with software that’s the best in class.
- From church plants to megachurches, we’ve got you covered.
- Cumulative Translation Adjustment (CTA): Visit chaneyassociates.com today to get started.
The post 15 Traps to Avoid If You Lease a Part of Your Church Facility appeared first on Church Answers.
339 епізодів
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