Converting a Basement into a Rental Unit
Supplement your income by turning your unused basement space into a rental unit.
By: Caroline Shannon-Karasik
If you are one of the many people who have an unused basement space, then you may want to consider converting it into a basement rental unit. Not only will the space be put to good use, but it will also provide a source of supplemental income.
Before deciding to rent out your basement space, look into any legal issues within your state and county that may affect your ability to rent the space. Health and safety issues, like radon or mold infestation, are also issues that should be addressed before listing your basement as a rental unit.
When you are given the go ahead to convert your basement into a rental unit, there are a few aesthetics that should be addressed. Make sure the basement area is finished and livable. This means providing the proper flooring, lighting and adequate bathroom space. A kitchenette, washer and dryer may also be worthy additions.
If you decide to list the unit as a furnished space, then you will need to provide a bed, television, dresser, floor lamp and other common items.
Before seeking tenants, decide what level of maintenance you expect from a potential renter and communicate that in your advertisements and during conversations.
See also: Planning a Basement Remodel
HGTV Dream Home Inspirations
The most beautiful photos of HGTV Dream Home 2009 are all in one place! Click through our inspirational gallery, then select specific rooms to cruise through.
Hugely popular in the early 1900s, bungalows, craftsman-style homes can still charm home buyers
Peek Inside a 'Design Star' Contestant's Rustic NYC Apartment
What Dan and Dasha Faires' small NYC apartment lacks in square footage is made up for by convenience, rustic industrial style and character.
Manhattan Apartment Doubles in Size
A family of four finds the space they crave by buying the apartment next door and turning two NYC railroad apartments into one dream modern apartment.
Journalist Composes Color at Home
San Francisco-based lifestyle journalist Julia Walsh turned to many of her own featured subjects to create the design of her apartment's writing lounge and living room.
Small Homes On the Move
On land, at sea and in the air, these homes are a moveable feast of small-space design ideas.
Dated Kitchen Goes Mod Farmhouse
A family remodels their century-old kitchen into a modern farmhouse cookery, chock-full of charm.
Remodeling a Rental Unit in the City
After buying a building in Brooklyn, Tom Bencivengo turns a rental unit into an open, inviting one-bedroom apartment with smart storage solutions.
'80s Condo Updated for Rent
Dr. Carolyn Bannister uses bold colors and eclectic design to energize a condo for young medical professionals to temporarily call home.
Explore your options for a farmhouse-style kitchen, and get ready to create a warm and welcoming kitchen design in your home.
Subscribe to our newsletter to get the latest trends and expert advice delivered to your inbox.
We're serving up the latest news, gorgeous style, crafty DIY projects, clever entertaining tips and more. Consider these your design digests.