Storage for tenants

[Lawrence Wesley]

Hello,

I am currently saving to invest in a multifamily 4 unit property. My plan is to use the FHA loan, requiring me to live in a property for one year. I would like to rent out all four units and build out a basement area for me to live, maximizing my income.

When renting out the four units do you think the lack of basement storage available will turn tenants away from renting?

[Ned J.]

Depends.... how big are the units? How is the storage space in the units? Is tenant access basement storage really common in your market?

So you have one basement and multiple tenants...... how do you keep the items separate and safe from each other? Unless you can portion off secured sections, I would be concerned about having common access to the belongings of multiple tenants

Without knowing the details, my gut would be you will make more $$ with your plan, than you will if you basically reduce the number of rented units and offer a little more storage space.