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Renting Detached Garages (in Philly)
Can anyone share their experience with renting out the detached garage(s) that may come with a SFH purchase?
What are the things to consider before investing?
I'm a buy and hold investor in West Philadelphia.
Thank you.
What are the things to consider before investing?
I'm a buy and hold investor in West Philadelphia.
Thank you.
Most Popular Reply
I love small garages and have never had issues renting them out separately or as value adds to a current SFH. I prefer separately. Philadelphia can vary heavily street by street and so can the rental prices on a garage shift as well.
The tenant is also provided less protections than in a standard residential lease.
One important distinction to make is whether or not the garage has electricity or has any form of climate control and how those bills get handled.