Renting out your basement suite can be a great way to help pay off your mortgage, or even be a way to make a little extra monthly income. Though it may seem like a great idea, there are some things that you should consider before renting out your basement. Below is a list of 5 things that every renter should consider:
Most houses and even apartments are not developed with soundproof walls. It is much more expensive to soundproof the walls. Sound will carry throughout the house. This goes both ways. What if you enjoy waking up early and using the blender to make your favorite smoothie, while your renter enjoys staying up late and listening to music? Both parties will have to adjust their volume if sound carries.
When you have a renter it is your responsibility to be there if something goes wrong. Any time an issue occurs the renter will rely on you to fix this issue. Therefore you must always be near the phone in the case of an emergency.
Don’t forget that your renter will also need a place to park their car. Parking spots make properties more attractive. If possible, it may be a good idea to give your renter a space in the driveway. Though this can be tricky depending on how many people living on the property drive.
Many people use their basement as a place for extra storage. When you rent your suite you will need to find a new place for storage. Stop and Store Victoria offers great deals on all of our storage units. We also have smaller, cheaper units for those who don’t need as much space as a normal unit would provide. Contact us today.