Two sfh one one property

6 Replies

Hello all,

Would you be able to give me some advice please?  We are in contract on a 3/1 sfh that also has a one bedroom studio detached "mother-in-law" house on the same property.  It also has a detached 2 car garage on the same property.  There will be 0 tenants in the place when we close and I am wondering what we need to do about assigning things such as -who gets to use what part of the front and back yards?  -who gets access to the 2 car garage? I'm quite sure we will end up with a tenant in the smaller place early on (because of price point and demand) and then rent the larger sfh a few weeks later down the road.  What can we do to make this a logical sell to prospective renters?  What can we write into our lease and our rules to combat arguments?

Thanks much!

These are your decisions, to be made up front, and advertised as to negotiation if you prefer.  You need to establish parking areas, access, etc.

Fences make for great neighbors. If you can, fence off some outside space for each unit.  I wouldn't provide any garage space for the one bd unit. The larger house will rent for more and more easily if the 2 car garage is included with it.

Spell everything out in your lease about who uses what and who maintains what. I have found clearly defined space and separately metered utilities is the best way to go. Everyone has their own space and is individually responsible for it.

Anything shared (driveways, utilities, yards, garbage collection, and etc) must be clearly spelled out in advertising and the lease documents.

Parking should also be addressed in your lease (who gets what, where, when and how).

If you don't know what to do with something, decide to do it one way. You can always change next time you do a lease (it's not the end of the world). Pay careful attention to people when you show the place and see what concerns they may have. They will tell you what items will be issues and you can make adjustments if necessary. Just be careful not to change lease terms after it has been signed.

Are they separately metered?  That can be a real problem dividing up the billing unless you include utilities as part of the rent.  Some states do not allow you to divide the billing up.  I learned that the hard way and had to reimburse the tenant 14 months of utility bills.

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