I am currently looking at buying a home with a detached garage apartment and living in one while renting out the other. Thinking long term, after I move out I would like to rent them out separately to maximize cash flow. Only issue is, I wonder how difficult that might be once I move out. Have people had trouble selling tenants on renting a house with a tenant in the (garage) apartment behind them? I live in Houston where this setup seems relatively common but am not sure if that comes with tenant issues around a shared yard, etc.
Lender · Topeka, KS · Member since 2020 · 50 posts · 81 votes
6y
I could be off my hinges here, but have you thought about just selling when you're ready to move out? Or raising the rent to your current tenant when it comes time to renew (because their sq ft has just increased) and just releasing the property as a whole to them as a tenant.
I think it could be pretty difficult to find a renter for your garage house. I don't know your market, so that'd be an easier question for you to answer.
Just my thought..
Another thought, would be to have the current tenant sign a contract/agreement that relinquishes you from the "I didn't know you were going to do this" argument later. That way when you do decide to rent out the garage, they saw it coming.