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Updated almost 10 years ago on . Most recent reply
An additional Kitchenette a liability for landlord?
Folks, I need some suggestion/advice/thoughts on what to do with a kitchenette hook up in a split level single family property that I am about to close on for buy & hold.
The upper level has a full kitchen and the rehab work is mainly in the lower level which basically only has finished dry walls. Down there I need to finish just about everything else from flooring, trims, to windows/door frames.
There is a kitchenette hook up by the lower level exit door with tiles put down. My thought was to cover it up somehow and NOT to make it accessible because all I can think of as a landlord is a liability feature having an oven/stove upstairs AND downstairs for renters.
It's a 2000+ split level home so it COULD be an attractive feature for renters with big family (maybe like a in-laws suit). If I do that I will probably buy a whole kitchenette set to finish it off. However, I can't get over the thought of grandma or auntie fee forgetting to turn off the stove down stairs and setting the place on fire.
What would you do?
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There are a fair number of houses in my area where they became a duplex by using an upstairs and a downstairs apartment. They cash flow better than renting them as a single house but you get a lower quality tenant and much higher turnover. There are usual issues like only one furnace etc that you can work through, but they are a pain.