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Updated over 7 years ago on . Most recent reply
Value Add or asking for trouble?
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
Most Popular Reply

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.