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- September 4, 2018 at 5:37 pm #242004
Hey I stumbled on your post and found the link of top 25 in 2018 very useful.
I have a scenario, and don’t know where to get the best advise on it. Could you point me in the right direction if you have any thoughts on this?
Closed on a property. 1050 sq ft main level with 4 bed, 2 full bath, and 1 living room. Wanting to finish the basement, and rent both top/bottom.
Problem is city won’t permit kitchen in basement as it would form a duplex. They only allow microwave. I thought of finishing basement with a master bedroom and master bathroom, another office room (which could double as a bedroom) and adjacent bathroom. There would still be room for a family room left over.
I through to use this property as student rental, but cannot house more than 4+ (thus limiting cash flow). What is the best way to finish the basement so as to rent both top and bottom and achieve best ROI?
Eg, should landlore rent the top to a family and bottom to entrepreneurs wanting to use it as an office monday-friday?
Or should I rent the top to a family and bottom be used as a vacation rental?
Or should the top be rented to group of students, and the bottom be used as either vacation rental or an office?
I do want to rent the bottom to students too, but how does one get around the ordinance (of no more than 4 unrelated people in a dwelling) set by the city?
Many thanks in advance.