Garages for Rent

[Account Closed]

Does anyone here invest in garages for the purpose of renting them out? I've always been interested in this. What are some of the pros and cons? And how do you go about buying a garage to rent out, i.e. how do you find them?

Chris

[Jerry W.]

I have a few garages I rent out. They require almost no maintenance other than roofs and doors. I usually get rent in quarterly payments and often have to remind folks, but have only been stiffed once. Find a rental unit lease. To my embarrassment I have almost never gotten a signed lease, I have usually done handshake. Bad way to do business. One was to the guy I bought a house from, he never moved his stuff out so I charged him $50 per month for over 4 years. It worked out well until a tenant insisted he needed a garage and I helped the old owner move out.