Rent out garage space?

[Jayden Espinosa]

Hello everyone! I recently attended a luncheon where the guest speaker talked about squeezing the most out of every deal. After his seminar, I began thinking about how I can do this with my current house hack.

I am currently in a rent by the room strategy in a 3 bed, 2.5 bath townhome right next to a local university. None of us use the garage which has space to fit about 1.5 vehicle(s). I want to rent this space out and am curious if anybody has experience renting out a garage? Is this legal (UT)? What precautions should I take? What’s the best way to market the garage space?

Any advice would help. Thank you!

[Steven Foster Wilson]

Quote from @Jayden Espinosa:

Hello everyone! I recently attended a luncheon where the guest speaker talked about squeezing the most out of every deal. After his seminar, I began thinking about how I can do this with my current house hack.

I am currently in a rent by the room strategy in a 3 bed, 2.5 bath townhome right next to a local university. None of us use the garage which has space to fit about 1.5 vehicle(s). I want to rent this space out and am curious if anybody has experience renting out a garage? Is this legal (UT)? What precautions should I take? What’s the best way to market the garage space?

Any advice would help. Thank you!

 Do you own this property or are you renting? If you own it then go for it. I think that is a great idea. With my properties here in Columbus, I always rent out our garage space or charge extra with the rent. I would look online what a garage is renting for in your area and go from there. I do not know the laws in your area, you will have to look that up.