Louisville, KY · Member since 2015 · 166 posts · 83 votes
Just bought my first property. The two car garage has a wall dividing it. I'm going to use one side for storage. Should I let the tenant use the other side? The guy that is mentoring me through this is saying to never let them use the garage unless they pay extra. Reason being it gets used for storage and often stuff gets left behind. The renters next door get to use the garage. I did notice it was piled to the ceiling with stuff in the garage. My thoughts is to not let anyone use it. What is everyone else's thoughts?
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
10y
If the single family house next door gets a garage without an extra charge that is your comparable. Generally around here if there is a garage on the property it is included for a larger single family. For duplexes or MF it is extra to whoever will pay for it. We set limits on what people can do with the garage in the MF. You will get those who will stuff it to the gills with storage, if that is the case get extra security to remove the storage. Whatever you do be upfront about it in your ads. Have you talked to the next door owner?
Also what is the access. Every time you use the garage will you be blocking your tenants driveway? Or will you just use for equipment and park on the street. Who will do lawn care? do they have a place to store a mower?
It is another income stream for the property if you are willing to rent it to tenants. It should not be provided to tenants for free. You will also need to place restrictions on it's use.
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
10y
If the single family house next door gets a garage without an extra charge that is your comparable. Generally around here if there is a garage on the property it is included for a larger single family. For duplexes or MF it is extra to whoever will pay for it. We set limits on what people can do with the garage in the MF. You will get those who will stuff it to the gills with storage, if that is the case get extra security to remove the storage. Whatever you do be upfront about it in your ads. Have you talked to the next door owner?
Also what is the access. Every time you use the garage will you be blocking your tenants driveway? Or will you just use for equipment and park on the street. Who will do lawn care? do they have a place to store a mower?