Remodeling a basement/basement apartment
Submitted by: Christopher Behan
Remodeling a basement is a relatively easy and cost effective
way to add livable space to your home, but can also potentially
add a revenue steam for your income. If your basement is large
enough, and allows access to plumbing and electric, it may be
the perfect place to build a small apartment to rent out. With
just a small kitchen, bathroom and bedroom, you’ve created the
ideal place for a young college student, working professional or
vacationer to feel at home while subsidizing your income.
Before you plan to create an apartment in your basement, it’s
important to research the laws and other restrictions regarding
renting out this space. Commonly referred to as an “accessory
dwelling unit” you’ll want to check in your city and county
zoning codes, your home owner’s association guidelines and also
your state laws involving property rental. In many cases, it’s
illegal to rent a basement without its own windows and
ventilation and you may be required to register your basement as
a separate postal address to properly file taxes. Be sure to
check on all these legal requirements BEFORE you being your
basement remodeling project, as there are likely special
building codes that will need to be accounted for in your
designs. Remember you’ll also be taking on all of the legal
responsibilities of a landlord, so be prepared to deal with any
pluming, pest, electrical and other issues that develop for your
basement tenant.
Once you’ve decided that renting out your basement is right for
you, you’ll want to try to make this space as appealing as
possible to potential renters. Check out other apartments in
your area to get an idea of the prices and the amenities being
offered, so you can decide on what price you’ll offer for your
space. To maximize your bargaining power, you’ll want to ensure
your basement apartment is as close to a traditional one as
possible. This includes ensuring an entrance that’s separate
from the main house, installing higher-power lighting to
counteract the natural darkness of a basement and providing a
small, independent climate control system that allows the your
tenant to control the temperature in their unit. Another
important addition is sound proofing, which can help your tenant
feel as though they have their own space.
The last step you’ll want to take before renting your apartment
is to screen the potential residents you plan on renting to.
Request copies of bank account balances, tax returns and perform
a credit check to make sure that your potential renter has the
capacity to pay reliably and has a record of paying on time. You
may also want to do a criminal background check, and conduct
interviews to ensure you’re comfortable allowing this person to
rent a space in your home.
To ensure your basement remodeling project produces a
high-quality, stylish apartment someone will want to call home,
it’s a smart idea to hire a professional contractor. With their
assistance, you can be sure your basement apartment is up to
code and will stand the test of time.
About the Author: Christopher Behan is a professional writer
specializing in the home improvement industry. His writing
focuses on basement remodeling, windows, sunrooms, and other
home remodeling products and services. His work has been
featured on multiple home improvement websites.
http://www.1800basement.com/
Source: http://www.isnare.com
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