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Updated about 4 years ago on . Most recent reply
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Does Murphy bed, count as rentable bed (room)?
I have a few 1 bedrooms with a huge living rooms, approximately 14 x 16. One even has a nice little Nook in one wall, where I’m thing about putting a Murphy bed. I figured it would take a Saturday and about $450 in materials. Wandering if you all think i could advertise this as a 2 bed 1 bath and bump the rent by $50 to $100 per month?
I’ve seen people pay $40 for a cat or dog, and get more for deposit. If this is doable, 2 weekends and a $1,800 investment over 4 properties will net me $200 to $400 per month, which just kills the 1 percentage target.
Any thoughts on what someone would pay per month for granite counters? Kitchens are real small so maybe $800 in cost.
How about mini split air conditioners, vs their own window units? FYI in ohio, 1 hour north of Dayton.
Also would love to hear other ideas along this thinking. Fyi I already have coin operated laundry which grosses about 4 washes and 3 drys per unit per month, you can figure based on average cost in your area. Some folks air dry instead of power dry. Thinking about adding soap machine.
Most Popular Reply
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Originally posted by @Steven Westlake:
I have a few 1 bedrooms with a huge living rooms, approximately 14 x 16. One even has a nice little Nook in one wall, where I’m thing about putting a Murphy bed. I figured it would take a Saturday and about $450 in materials. Wandering if you all think i could advertise this as a 2 bed 1 bath and bump the rent by $50 to $100 per month?
I’ve seen people pay $40 for a cat or dog, and get more for deposit. If this is doable, 2 weekends and a $1,800 investment over 4 properties will net me $200 to $400 per month, which just kills the 1 percentage target.
Any thoughts on what someone would pay per month for granite counters? Kitchens are real small so maybe $800 in cost.
How about mini split air conditioners, vs their own window units? FYI in ohio, 1 hour north of Dayton.
Also would love to hear other ideas along this thinking. Fyi I already have coin operated laundry which grosses about 4 washes and 3 drys per unit per month, you can figure based on average cost in your area. Some folks air dry instead of power dry. Thinking about adding soap machine.
In densely populated areas I’m sure a Murphy bed would rent for a lot, not sure about an hour north of Dayton.
I’m a fan of mini splits in Ohio that way you have a classier way to heat and cool.
As for granite, it is always nice but you won’t get more in rent if you have granite, but a tiny kitchen, it more so has an effect when added to an already great space.
Try to think of things that would add value to your tenants. That is always the best source of ideas.