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Updated over 6 years ago,
Basement apartment rental
Hello everyone, With our kids getting older and starting to move out, I am going to be renting out our 3 bedroom walk out basement. Its already set up for this just need some finishing touches, about 6k worth. Back in the single days, I renting this little gem out to a family of 5 for a few years. Since then it been a little neglected and need work. Heres my question: Id be putting in 6k to repairs and such, would you treat is as a mother in law apartment, as if my mom or kids were down there or as a full rental and witch mean id be claiming rent and writing off the repairs every year?