One bed to two bed conversion---

[Kelly N.]

Hi all,

I have a one bedroom apartment I am looking to make some improvements on, but would like to get my budget critiqued before I commit...

Currently, this unit is rented at $650/ month. The previous landlord called it a 2 bedroom, but really it is a large one bedroom. If I leave it as is, I feel I can increase the rent to $675 when the lease is up in Aug 1. The current tenant loves the place but can't renew the lease- she is on some sort of assistance program which ends with her lease.

I am looking at the possibility of making it into a true 2 bedroom. This would involve adding a door and a closet. I'd like to put in a French door which will cost about $400 and I figure the closet I am guessing will run about the same by the time I frame it, drywall it, give it a door and some shelves. So for about $800 and a bit of work, I think we can then charge $50-$100 more per month.

I am estimating this project should only take a day or two to complete, the lease currently ends about a month before most leases start (college town rental) so we'd have time to complete it.

Is there any reason we shouldn't do this? It seems like a no-brainer, but I wanted to get more opinions :)

Thanks,
Kelly