Renting a Garage - what do I need to know?
Hello BP! Been awhile since I posted. We have been very busy with our 2 duplexes we purchased within a week of each other!
Anyway, our one duplex actually has a 4 car garage (2 2-car garages for each unit) and it also has an additional narrow garage along the back that goes the length of the building (approx. 12x45-ish... didn't measure, could be slightly bigger). Anyway, we are going to rent this additional garage space out for additional income on the property. Planning on charging $200/mo because of the size but what should I know about renting a space like this? Do I really need to screen the renter? Should I require a 3 month lease or is month to month pretty standard? Should I require a deposit of any kind? Do I need to draw up a formal lease for them to sign or can I find one somewhere? Also any wise words would be nice.
Thanks!