Basements - finish them, or rent unfinished?
Category: Single Family Homes
3 replies
Original post
A few of my SFHs have unfinished basements. I'm curious if finishing them after my tenants' leases are up would help me fill it faster or justify a higher rent (and if so, around how much higher).The laundry hookups are down there, but otherwise my current tenants seem to be using the space for storage.
Reply by Val Sorensen
I am probably not the most qualified person to answer this question, but I recently finished a basement in my rental, so I thought I'd chime in. It was already about half finished already. it had drywall throughout, and one of those stupid toilets that sit up on a pedestal in the half bath, but it was just a cement slab.I was able to prep the floor, install flooring, put in a macerating toilet, and drywall the bathroom(previously it was just wood paneling), and prime the walls for about $2000(majority of the cost was the macerating toilet). I did almost all the work myself. I increased the rent $300/month after the conversion.