SFR investing in Cleveland OH

2 Replies

Hello fellow investors, quick question. I currently own a few properties in Cleveland however I live out of state. My questions is, considering Cleveland winters would it be a problem purchasing a rental with no garage? I am currently in contract now on a property that I just found out has no garage. Would this rent or would this ultimately be a problem?

@Michael Lewis  I also have single families that don’t have garages.   I have had prospective tenants tell me that they wouldn’t look at a house without a garage, but that’s pretty rare (maybe 1 out of 25 or 30) and I’ve had no trouble renting them at market rates (comparable to houses with a garage).  For the right tenant (e g motorcycle owner) you might be able to charge a premium for a garage, but probably not enough to justify putting $ into one. 

Two things about city of Cleveland garages:

1) even if you have one, its generally not in great shape (and tenants dont expect them to be)

2) I just picked up rents yesterday- every tenant who has a garage had their car parked outside.  This holds true even in the winter 

Bottom line, no garage is not going to create a rentability problem here.  

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