How do you handle a client offering less because of budget but you don’t want to reduce your hourly rate?
I think a lot depends on your level of motivation or in some cases desperation. We’ve entered into this with a firm stay in control posture. We’re not desparate to rent our property. We don’t need the money so we won’t consider renting to anyone we don’t have warm fuzzies with or who wants to throw a big party. We’re sticking strictly with photo, vedio shoots, business and self realization retreats with no greater then 30 people an 10 vechiles. We also require a non-negotiable 5 million dollar liability insurance policy. We’re just stickin our toe in the water on this. But as I’ve learned from being a businessman for 60 years, never let your job run you. You run your job.
I agree that it really depends on your situation and what kind of bookings you are doing. Our space is a conference room in our office building and we only accept meetings for up to 10 people. So I’m going to be in the office anyways, and if it’s not a busy season I will accept a lower offer. We have one today in fact.
But again, our space is small, and I don’t have to go out of my way to open the space or organize for a big clean up after. I’d rather have some income from the space than an empty space.
However, if it’s a bigger space, a busy season or requires more work it’s easy enough to say that you’re sorry the space does not fit into their budget, but that your price is firm.