I managed a studio for 25 years and this was an integral part of my job.
I had a contract of agreement between the Studio and the renter written up by an attorney.
A few things I thought were important:
List of 5 references and check them out!
Cash any checks prior to first rental
Review the contract and sign it with them
Proof of (their)liability insurance
Safety features/AED set up/911 policy
Proof of (their) CPR
Shoe restrictions, floor damage? ( we didn’t allow tap/hard soled shoes on floor)
Believe it or not I had to put a clause in stating: NO Candles, NO Glitter, NO Feathers allowed in side the studio!
Food policy are you going to allow food and drink?
Hi Joy. In addition to the very good information already given, I’d say that FIRST and FOREMOST before you even go down that path, I would make sure that you have two things in hand: 1. rock-solid liability insurance to hold such events at your studio, and 2. an iron-clad contract with the potential lessees. Risk management (anticipating and avoiding foreseeable risks) when you’re inviting others to use your facility is a MUST in my opinion!