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Updated almost 11 years ago on . Most recent reply

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82
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Sean Connolly
  • Investor
  • Boston, MA
24
Votes |
82
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Offering garage with unit

Sean Connolly
  • Investor
  • Boston, MA
Posted

Hey BP,

Wondering what other people have charged for garages to go along with units? I have a detached garage right next to one unit, and another garage below the other unit. The old owner used both of them personally, but wouldn't mind renting them for an additional amount. Should I offer it to them, or just tell them it goes with the unit. Thanks in advance!

Most Popular Reply

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13,451
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,349
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13,451
Posts
Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Garage rents will depend on the area; I have one one-car that gets over $100 per month. You have to determine whether there are any utilities used in that garage, and whether they have been properly separated so that other tenants do not foot the bill for the garage - at least you have to do that in PA because PA has foreign load utility billing that puts the entire utility bill on the landlord even if just a tiny bit of the utility is shared.

You also have to beware of the use that a garage tenant wishes to have; I had one person looking for a garage so that he could butcher hunting kills there ...

See if any garages are listed on CraigsList to get an idea of potential rent amounts. And try to get a garage lease that is more like a storage unit lease than a housing lease, if that is allowed in your state.

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