Becoming A Landlord For The First Time To Get Your Teen A House? Great Options To Provide The Other Tenants

25 January 2018
 Categories: Business, Blog


So you have bought a small duplex or shared building for your college student, or to make some rental income, but you aren't sure what type of appliances and amenities you want to offer the tenants. There are some things to consider if you are worried about the costs of taxes, utilities, and other things and if you want to have a lucrative property that people want to rent. Even if it's going to be your own children, some of the things they may have to pay for. Consider getting these things for the property.

Car Ports or Storage with a Cost

If there isn't a garage with the property, offering a carport where they can park their vehicle to protect it from snow or sun is ideal. You can charge extra for having this, or you can charge extra to certain tenants that want to be able to park under it. A storage shed broken up into quadrants, or using a basement area to rent out storage space can also bring you an extra income.

If other students are renting a duplex, they may want a space to store bikes or other equipment. You can also look into options for the side of the rental unit.

Laundromat Washer and Dryer

A washing machine and dryer that is operated with coins is a great way to help curb some of the property costs. If you worried about your child as the tenant having to pay you can give them some of what you take out, but the other tenants will all have to pay for the machine. This will eventually pay for the money you invested in the units, and it will also be an attractive rental option for people that don't want to go to a large laundromat to do their laundry when they have to work, study and more.

Security System

If you have some type of cameras around the property, and signs that indicate to any potential intruders that you have a security system, this can help to ward off burglars. You may also want to get keypad entry deadbolts, and you can easily change the passcode with each tenant you have, instead of having to invest in new locks.

These are all things that will help you get the most rental income out of your property, and that can help you feel good about the property that you are providing your tenants. If you are just becoming a rental property owner for the first time, look into these options. To learn more, contact a company like Metropolitan Laundry Machinery Sales Inc.