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Fuel Tips For Your Home
http://www.realtyone.com/c.sherrard/
Fuel Tips For Your Home
With gas prices almost doubling this year in the Cleveland Ohio area, (As if last year wasn't bad enough) Any and all short cuts will help.
Cooking
* Covered pots or pans...
Need More Income From Your Investment Property?
The goal of every real estate investor is to see their property appreciate in value and to have it generate a positive cash flow. The appreciation normally takes care of itself if the property is of good quality, in a good location, and is held over...
The Different Ways You Can Sell Your Property
There are two ways that you can sell your property. One way is to use an estate agent and the other is to sell privately, which usually involves advertising on the internet. In this article we’ll look at the two options to help you decide which one...
The Good, the Bad and the Buggy
Bugs! Most of us got over liking them somewhere around the age of 12 after the ant farm went belly up and we began to appreciate how annoying mosquitoes, wasps and chiggers could be. Then as adults, we learned to despise roaches, gnats and the...
To Picket Fences
Of the 359 homeowners in my area, 112 are running afoul of the law in a deviously blatant way by committing the heinous "fence offence;" in other words, breaching Los Angeles municipal code sections 12.21 and 12.22 which limit front yard fence and...
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Renting Out Your Basement
Some homeowners consider their basement a wasted space. It's used for storage, they say, and maybe during tornado watches, but for the most part, it can be a vast unused area just dying for some renovation. With property values on the rise, many homeowners toy with the idea of turning that space into a rental property.
If you've thought about renting out your basement, there are a few important things you should know first.
First of all, you have to clear it with the authorities. Head to your local building department and find out whether or not rentals are allowed in the area where your house is situated. If they're not, renting- even just your basement- is not going to happen. If you are allowed to rent your space, you must make sure it clears all building codes. These involve having the required electrical systems (outlets, light switches, and wiring), exits, smoke detectors, ventilation, and the ability to heat and cool the space. Some areas have much stricter building codes than others, so it's important to check what applies in your neighborhood. In order to make your basement a rental, you'll have to bring it up to speed.
Many homeowners hit a stumbling block when it comes to the doorway factor. Having a tenant in the basement means that the tenant needs their own entrance and exit that opens to the outside. It can cost big bucks to remodel a basement door into a usable entrance, and some basements don't have a door to the outside at all, which means construction costs will be first on your list.
Even if your basement meets all of the
above requirements, there's still work to do. Unless you have a particular tenant in mind and know their needs, you must realize that your city is probably full of apartments, and your basement has to compete. This probably means the installation of painted drywall, carpeting, and other small amenities (including a bathroom and kitchen area!) to make this space truly appealing. Is this beginning to sound like a big investment yet?
Before you make the plunge of building a basement rental, it's strongly suggested that you think seriously about whether or not you truly want a tenant. Unless, as stated before, you have a particular tenant in mind, you will have to go through a screening process before allowing a stranger to essentially live in your home. Also keep in mind that your basement, unlike apartments in a complex, was not built to be a separate living space, and there will be sound leaks and other nuisances that might pose problems. It's a big jump to go from a private home to a private home with another private home beneath it. Make sure it's a jump you want to take before you start laying out the cash to make it happen.
About the Author: Kirsten Hawkins is a real estate expert from Nashville, TN. Visit http://www.king-of-real-estate.com/ for more information on real estate, mortgages, and finding the house of your dream.
Source: www.isnare.com
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