Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 4 years ago,

User Stats

4
Posts
0
Votes
John Messier
0
Votes |
4
Posts

3-Family Common Area

John Messier
Posted

Hi, I'm in process of purchasing a house with 3-tenants, each on a separate floor.  Each tenant has access to the basement through a common interior stair case.  The unfinished part of the basement includes a washer/dryer and storage shelves for each tenant.   The basement also includes a fairly large finished area - 2 rooms and a bathroom.  Currently, this area isn't locked.  The finshed area cannot be made into a separate apartment because it doesn't have the required windows / egress for a bedroom I was told. 

So I'm hoping for ideas as to what to do with the basement.  It's accessible from outide the home through a first-floor door (which has a lock available to all tenants) to the common stairway.

Some questions.   I assume allowing tenants access to the common basement is OK and standard practice?   Also, should I consider renting the finished basement as an office to a non-resident of the house and add a lock to the door?   What are the requirements for an office?  [I couldn't find any issues with one window, one door, and two means of egress from the basement.)   Should I look at renting the finished area to a resident tenant for additional space (as an office or exercise room).   What would you do?   THANK YOU 
   

Loading replies...