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238
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Kurt F.
  • Investor
  • Rocktown, IL
69
Votes |
238
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Renting garage spaces separately from duplex

Kurt F.
  • Investor
  • Rocktown, IL
Posted

I'd appreciate some input.

Some initial rambling:  I have a detached garage on my duplex rental property that I've not yet rented out -- so far I've been using it for rehab staging/storage. It's a small 2-car with 2 doors, divided by a central full-height interior wall down the center. My duplex is a side by side -- the garage was set up for one garage stall for each tenant.

I need to do some work on the garage, including paint and garage doors. The house and neighborhood is Victorian -- the duplex is an American Foursquare style built in 1900. The garage matches the style of the duplex.

What are your thoughts on this:  I've considered renting the garages out separately from the duplex, and with a separate lease for each garage stall.  Here's the reason -- the one long-term tenant will definitely not be interested.

Also, given a very quick check of the local market, I may get $75 / garage +/-...? Many of the nearby Victorian houses don't have garages, or they are the really tiny ones originally intended for a carriage. I could probably rent both quickly.

Thanks in advance.

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User Stats

52
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15
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Jim Sokoloff
  • Real Estate Investor
  • Cambridge, MA
15
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52
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Jim Sokoloff
  • Real Estate Investor
  • Cambridge, MA
Replied

The main thing I'd be worried about is hampering my ability to rent the duplex without a garage space if both garages are leased and a duplex unit is turning over.

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