Value Add or asking for trouble?

[Peter B.]

Fellow BP peeps. I need your help solving a friendly husband/wife REI debate..

So I have a handful of multifamily properties with attached garages.

I have been updating the garages with fresh paint, epoxy floors, new modern fixtures and vinyl base. Thus far it has been a positive response.

I told my wife I was thinking of finishing the garages off ,like my own finished "mancave" garage by adding a ceiling fan,ceiling mount heater,an additional outlets... She says "it is a terrible Idea." She thinks they will be up all night drinking beer watching sports... (I have no idea where she gets that from lol)

I feel it would add an additional feature no one else offers, resulting in higher rents and less turnover and an occasionally annoyed wife/girlfriend ;)

How would you describe this space???  Add it to the sq ft area? Call it rec area? Or just finished attached garage?  

Here is a pic off one off the buildings with the "level 1 finish"

Let me know your thoughts or if you have tried this and the response you got!

Thanks, Peter

[John Casmon]

Look to see if any other rental properties have finished garages and if they pull a premium in rent. Worst case, you can run the experiment on your own and finish one garage and see if it garners a premium. 

However, you may be better served adding a unique feature to the kitchen or bath that really makes it standout as opposed to the garage updates.