Decided to invest in garages? Note that two rental operations are possible (as an accessory room to a home or a professional room). It’s up to you to make the right decision taking into account the achievable profit!
Rent A Garage As An Accessory Room (In A Residential Lease)
As previously mentioned, the garage can be rented as an accessory room to a home or as a professional room. In this case, it is not necessary to draw up a specific lease contract.
The use of the garage must, however, be mentioned in the lease of the main room. Access to this space (especially if it has special features like speed humps) could be an argument to impose a rental price a little higher. It must be said that it is a privilege for someone who has a car.
Rent A Garage As An Independent Room
If the garage has an independent room’s appearance, its rental must be the subject of a special lease signature. A paragraph is dedicated to it.
Rent Spaces In Private Car Parks
This is another type of garage rental. The principle is to buy a few spaces in a private parking lot and rent them up.
This rental requires the drafting of a precise contract. Note that the duration of the rental and the quality of the location interfere in determining the price. To succeed in your investment, it is essential to choose the right parking boxes to buy. As you know, tenants are above all looking for security and ease of access.
This is another point that should not be overlooked. Unlike a home, a garage requires little maintenance, especially if it is a space in a parking lot. You only need to make small repairs like replacing the lock or the door. The charges, therefore, remain limited. This is why profitability in “time” value is essential.