Things to Consider Before Renting Out Your Garage


What’s the purpose of having a garage if we don’t use it?

We may not need the extra space anymore, but somebody else might. Why make Phoenix homeowners pay more for car storage, when you can offer up your own garage space at a lower price?

Whether it will be used as a storage room, a rehearsal room for local bands, extra parking or totally converted into a new room, you neighbors, or renters in general, will gladly pay you for the extra space. There are actually people who would rather rent long-term than invest on building a space of their own.

Garage Gizmos

Even garages need to make a first impression.

The first thing you have to do is make sure renting out your extra space is authorized or a practice in your neighborhood. No one wants to illegally take up room or be wrongly accused of trespassing.

Once approved, clean it inside out, disposing unnecessary junk as you go. If space permits, valuable belongings, which you don’t want to dispose yet, can be moved inside your home.

Sometimes, tenants won’t mind sharing space with your already existing belongings. Keep them organized and hidden anyways.

Advertise in your Area

Put up announcements on local newspapers and websites like Craigslist or local online sites. Better yet, just stick a sign on your garage door. Text your neighbors. The important thing is that you get the word out about your available space.

Make small talk with your possible tenants, and ask them to tell you about themselves to get an idea of their personality. Also inquire about their reasons for renting. You never know what they’ll be doing behind closed garage doors. In short, conduct a background check – discretely.

Rent Agreements

Ensure that your tenant’s safety is a priority by checking if your garage doors are still in good condition. Check if the doors open smoothly and the openers or keys function appropriately. As a landlord, you’re already responsible for their occupancy; you definitely don’t want to be held accountable for any accidents and injuries that happen within your property.

Rates will vary, depending on size, what will be stored in there and for how long. You may also ask your neighbors how much they’d rent it out for. Perhaps the bigger the car, the higher the rate?

Whether or not they pay for utilities is a negotiable matter. In the end, the pricing is up to you. Be clear about your terms; don’t forget to have your agreement on paper.

The decision to put your space up for rent will benefit both you and your renter. Not only do you find an extra source of income, you also make new acquaintances.

It’s not a must, but detached garages are the best option when it comes to leasing. Take note that renting out your garages means sacrificing some of your privacy.

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