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Updated over 9 years ago on . Most recent reply

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Max James
  • Investor
  • Cincinnati, OH
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How to charge a fee for parking in 4 car garage

Max James
  • Investor
  • Cincinnati, OH
Posted

In my 4-fam, there is a four car garage attached to the property.  It is a pretty small 4-car garage and to give you an idea, 4 Honda Civic's would fit semi-comfortably in terms of opening doors.

I am house hacking this property and currently only 2 cars are parking in the garage because it is much more comfortable to fit one car per half.  I have been letting two of the tenants park in there and am trying to determine how I want to handle who gets the garage spots.  

Does anyone have experience with handling how to charge for a spot in the garage?  I am thinking on Nov 1st, I will write a notice that one spot in the garage will cost $25.  The garage spots will be on a month-to-month lease.  I am thinking about painting lines in the garage to space out the spots and numbering them 1 through 4.  

Thoughts?  Experiences?  Tips? Thanks!

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Ned Carey
  • Investor
  • Baltimore, MD
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Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

The same thing that happens when a tenant wants to move into a fully occupied building. They have to wait for an opening. If you have separate leases for the parking, there is no reason someone even needs to be a tenant of the building to lease from you. 

You can complicate it as much as you want, with right of first refusal etc., but first come first served works for me.

  • Ned Carey
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