Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

3
Posts
0
Votes
Brett Modeer
0
Votes |
3
Posts

What kind of rental agreement/lease agreement would you use?

Brett Modeer
Posted

Hi there!  My girlfriend recently purchased her first home; a single family home with two permitted bonus rooms; one is directly below the house and another is built above the garage.  Each space is approximately 300 sq ft and are single rooms with a 3/4 bath.

We tested the response and it would be no problem getting tenants/room mates in the spaces at about $1,500 each.  We were going to install a bar sink and kitchenette (no stove) so we are not sure if that would be illegal and her fear is that a neighbor would report her to the city.

My girlfriend wants to do everything legally but the application process, permitting and construction would take up to 6 months (so no rent) and cost upwards of $40K.

She's going to be living in the main house; can she just rent out the spaces as if they're her room mates?  Would she have to provide a kitchen or use of her kitchen to the tenants?

Other options we've considered; renting out the main house instead of her occupying it immediately, doing air bnb for the studios.

Any advice would be appreciated.

Loading replies...