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Updated over 3 years ago on . Most recent reply

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Rachel W.
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Liberty Lake house hacking

Rachel W.
Posted

I’m relocating to the Spokane area and have been looking at homes primarily in the valley.  I’ve been working with an agent who has been very helpful in the search process, but is not an investor himself.  I am considering putting an offer in on a house in Liberty lake that has good potential for renting out a basement apartment while I live upstairs.  

I've read through the local ADU regulations and think that meeting them for this property will be feasible, though I still need to price out the required modifications (adding a kitchenette and a separate heating source). I will have to decide whether to rent it as a STR, medium term furnished rental, or LTR. I cannot find any specific regulations pertaining to STRs in Liberty lake specifically - is anyone familiar and is this simply because there are no regulations on them, or does it fall under county or state requirements? I'm purchasing for what fits my needs/wants for my primary home first, but want to know all of my options for bringing in some income from the additional space that comes with it.

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