Updated almost 5 years ago on . Most recent reply
Renting basement as storage/office to tenant - North Jersey
I just purchased a duplex and there is a large basement that the previous owner was using as his office and storage space. The previous owner is vacating the space at the end of the year and my tenant would like to use it for storage and his office while he works from home. Any thoughts on what is reasonable for the additional rent to charge for this space? Its not fully finished and is more of a true basement and storage space than it is office. It looks like a med-large storage space in this area rents for around $150-250/mo. Could I go for more than that knowing this is suitable as an office space and they'll be using it like that? For reference, the unit is a 2BR/2BA and I currently get $2,100/mo.
Any insight would be helpful. Thanks!
Matt