Top Risks of Renting Your Lodge Event Space
Many fraternal organizations have rooms, space or facilities in their buildings that are not used on a daily basis. Making these spaces available to the public and other organizations to rent can be an effective way to earn additional income and further the organization’s mission.
However, whether renting your kitchen out to a local baker or your entire activity center for a wedding or birthday party, there are risks that your organization should consider before making its event spaces available to rent. From lawsuits and property damage to member dissatisfaction and potential tax consequences, a single rental event can create risks that impact your organization’s finances, operations and reputation.
Before promoting your space as a rental venue, it’s important to understand potential challenges and the key risks fraternal organizations may face.