Lease Your Tools

Artisan’s Asylum has only been possible through the support of its member community, and this is highly evident in the equipment we field. Most of the equipment in the shop is leased from Asylum members and maintained to manufacturer’s standards by volunteers. This allows us to field higher quality equipment than we might have otherwise been able to, and allows members of the community to share equipment that might otherwise lie fallow in a basement or garage.

In order to make this leasing process happen, we have established the following guidelines for leasing equipment to the space.

Lease Details

In exchange for access to the equipment, the Asylum takes on the responsibility to:

In return, the lessor of the equipment agrees to:

Financial Agreement

In return for access to manufacturing equipment, the Asylum will discount membership (and not pay outright, or discount space rental) according to the tenets of standard lease deals. These deals emphasize the following points:

These concepts are put into practice by way of the following assumptions, which have been made to simplify the assessment process:

By way of example, imagine you are leasing a table saw to Artisan’s Asylum. It’s a used piece of equipment, but you’ve made sure it’s in good working order. It had a new value of $1,250. You would calculate your monthly discount via the following steps.

1. Determine the value of the equipment if it was new. It’s given that the value is $1,250.

2. Divide the new value of the equipment in half to determine its depreciation after 2 years. For the table saw, that would be $625.

3. Divide the depreciation value by 24 months. This turns out to be $26.

4. Thus, for as long as you are a member and have leased the table saw to us, you receive a $26 discount on your membership (up to a maximum of a fully discounted membership) each month.

If you would like to lease more than one piece of equipment, please draft a list of leased pieces for us, using this spreadsheet as an example:

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