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Rental Property: Creating Extra Space with Storage

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Home for rent with sign on lawn

Home for rent with sign on lawnIf you have extra space in your home and are looking for ways to create additional income each month, it may make sense to renovate your home to rent it out. Here are a few tips provided by the storage experts at Closet & Storage Concepts Philadelphia that can help you turn your home into an asset.

Decide on Guest Interactions

Before renovating, decide on how the tenant will interact with the rest of your home, family members, or other potential tenants.  Is your garage or addition big enough to provide a separate small kitchen and bathroom, or will you need to share the amenities in your home? Once you figure out what they will use in the other rooms, or if they will have their own private area with separate access, you can focus on the updates you need to make.

Shared Pantry

When an exchange student rents a bedroom and will have access to your home, they will normally purchase their own food. Having a dedicated pantry area for their items ensures that there won’t be any disagreements about which ingredients belong to you or them. Give them their own section in your pantry, whether it be a shelf, basket, or drawer. And make sure you label things to prevent any mixups!

Small Wardrobes for Linens

Depending on the size of the garage or addition, regular closets can start to get cramped with towels, bedsheets, comforters, and toiletries in addition to clothing. Smaller wardrobes and hallway linen closets can provide organizational solutions when renting out rooms in your home. Having access to this additional storage area can be a benefit if someone chooses to rent with you. Be sure to state in your contract shared areas and house rules so that everyone is aware of them.

Wall Beds and Study Areas

When the addition or garage will be a separate private area, you can provide enough space for everything and charge a premium. A wall bed with a home office system can help provide a place for them to sleep, store any books, and even provide a place for them to study. Providing certain pieces of furniture may be necessary if you are planning on hosting exchange students.

Providing a functional and comfortable living space for exchange students or renters is possible. The local experts at Closet & Storage Concepts are here to help with all of your home storage needs! Proudly serving the Philadelphia-metro area.

Photo copyright: iStock/xeni4ka.