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Updated 10 days ago, 12/17/2024
Monetizing under-utilized space?
I enjoy finding creative ways to monetize normally overlooked spaces at my rental properties. I've been successful at renting out detached garages on a few of my properties. I'm soon closing on a multi-family property that has some extra space that's begging to find a better use. Historically it was used as an office for the previous building owner. First thoughts are finding a way for the tenants to use it for a fee, either rent the space monthly or create a space that can be rented on a per-use basis....or possibly rent to another non-tenant individual for office use of some kind. Any creative ideas others have found successful? I don't remember if there is a bathroom in the area or not, which of course is a downside.