Does anyone have a good pinball lease agreement they wouldn’t mind sharing?
(Topic ID: 302341)
Hopkins, MN
Quoted from JT-Pinball:Does anyone have a good pinball lease agreement they wouldn’t mind sharing?
1 million a month 
Wait, do you mean good, or realistic?
Quoted from LTG:For home ? For location ?
LTG : )
For location. I do some work for the local arcade. I was in there tonight and they ask me to fix another game for them. They were worried about the downtime for that spot so I offered to lease them one of my game. I set it up and make sure it works 100% we spit coin. I work in real estate, so I like to see things in writing. I could probably modify something from a commercial real estate lease, but that seems pretty complicated as a starting document... I just want basic; description, rights, responsibility, and insurance should about get it.
Quoted from Isochronic_Frost:1 million a month
Wait, do you mean good, or realistic?
Well I was thinking verbiage, what are good or realistic terms? I was thinking half?
Quoted from JT-Pinball:For location. I do some work for the local arcade. I was in there tonight and they ask me to fix another game for them. They were worried about the downtime for that spot so I offered to lease them one of my game. I set it up and make sure it works 100% we spit coin. I work in real estate, so I like to see things in writing. I could probably modify something from a commercial real estate lease, but that seems pretty complicated as a starting document... I just want basic; description, rights, responsibility, and insurance should about get it.
Wow, pinball rarely works like that anymore. The cost of insurance alone wouldn’t be worth your time.
Half in pinball isn’t profitable really. It would barely cover parts and your time to fix it.
Quoted from Isochronic_Frost:Wow, pinball rarely works like that anymore. The cost of insurance alone wouldn’t be worth your time.
Half in pinball isn’t profitable really. It would barely cover parts and your time to fix it.
I assumed that arcades probably have some kind of insurance blanket that covers games they have in the building. No?
For home use I’ve seen about $250 a month with 2 service calls included. Everything else is charged based on the situation.
On location, I’ve heard of basically the operator covers everything, and they pay a weekly fee (could be viewed as monthly but operators collect once a week usually). The insurance is usually a bulk policy that covers the entire business and equipment.
Dictate the value of the game in the contract, find out what it’s worth to you. Keep in mind games get beat to hell in commercial settings and patrons are pretty rough.
Quoted from JT-Pinball:I assumed that arcades probably have some kind of insurance blanket that covers games they have in the building. No?
Maybe. Their own.
Never depend on others for insurance, licenses, or zoning ordinances.
LTG : )
So like 250 is the minimum and goes up from there? I can’t imagine setting up a 9000 Adams Family anywhere for 250 and then included two service calls a month.
My game is not super valuable say 3k. But I don’t want to just blindly hand it off with no money or lease. Been around block to many times. So your saying on location operators are paying a weekly fee based on value of game plus all cost of operation of the game?
I know there is some risk of abuse. Arcade is well named by the owners and it’s for kids it’s not a bar.
Quoted from LTG:Maybe. Their own.
Never depend on others for insurance, licenses, or zoning ordinances.
LTG : )
That’s a good point. I would make sure to read the policy or to agent I guess.
I work in commercial real estate. I am very good at obtaining all three for clients. 
.
Quoted from JT-Pinball:But I don’t want to just blindly hand it off with no money or lease. Been around block to many times. So your saying on location operators are paying a weekly fee based on value of game plus all cost of operation of the game?
The easiest deal is that the LOCATION pays a fixed monthly amount to the OPERATOR and the location keeps whatever is in the cashbox. I thought that was where you were going with this; i.e., you are looking at a stable income for your work, not subject to the whims of player interest. Maybe the operator gets a piece of the cashbox revenue if the number of total plays for the month is above a certain number, as compensation for above-average wear and tear. (Note that I said total plays, not just paid plays. All plays cause wear and tear.)
The standard deal has both operator and location subject to the whims, splitting the cashbox take at some ratio, perhaps with the first $N per week to the operator. Weekly is the standard collecting interval, or at least the accounting interval. You can get example contracts for this type of deal to get the verbiage about operator retains title, location provides electricity, who holds whom harmless, etc., etc. A operator-centric distributor like Betson is often willing to provide an example contract.
.................David Marston
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