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Updated over 6 years ago on . Most recent reply

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Jeff Cooper
  • Rental Property Investor
  • Franklin, MI
0
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9
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Open common garage - 6 units, 6 garage doors

Jeff Cooper
  • Rental Property Investor
  • Franklin, MI
Posted

I've got a multifamily with a large open garage area, with 6 separate garage doors (one for each unit).

Currently, the garage is a single large open area.  Problems include:

- some garage doors have openers, some don't.  None of the openers are operational currently.

- some tenants use their respective space to store personal property.  Some don't use at all.  

- No current secure areas - just big open room accessible by all tenants.  if one tenant leaves garage door open, access is to entire area

No extra rent charged for garage space - inherited leases provide tenants with access and rights to garage no charge.  

I'm looking for some ideas for how to maximize use of this space and bring value add to tenants and income.  There is enough outdoor, uncovered parking for tenants outside of garage (they park outside of garage now).  

- charge incremental rent for space?

- deal with security - build walls to separate parking areas (not much internal room for this)

- convert all into locked storage space with garage doors and charge extra?

Any thoughts appreciated.

Jeff

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