hotrod180 wrote:Ten or eleven cents per sq ft sounds like a real deal.
At my airport, the current starting rate for a hangar pad lease is $.55 per sq ft per year,
that's for the building footprint.
Plus a consumer price index-based annual escalation clause, usually 2-3%.
Our lease (now 20 years old) was originally supposed to be 40 years, but we negotiated it up to 50.
Not sure about the newer leases, but I think they're likely 50 year also.
Reversion clause at the end of the lease.
Nothing's written in stone though--
The two older hangar pad leases on my airport were shorter (20 or 30 years?), but were extended.
IMHO the trick is to start negotiating the extension long before the end date of the lease--
before the airport starts getting that feeling of "ownership".
Personally I don't know why the airport would extend a lease that they're getting maybe $500 a month from,
vs taking ownership & getting five or six times as much in hangar rent.
I’m pretty sure it’s .16.5 cents sq ft at Cody (KCOD)
I’ll get the full information next time I’m there this next spring.
