There is a possibility I may be ending up with a bit more space then I need here and this building can be divided in half.
I think I could rent for about $90 - 100 per week, but it's not about making a profit. It's about pitching in towards the cost of keeping this place... and sharing our nice rural spot with someone else.
I'd probably have to spend around $15k to make this happen but some of the stuff needs doing anyway.
Is this a reasonable plan or a momentary lapse of reason on my part? I never really wanted to be a residential landlord....
My to do list:
1. Install hot water and shower for shared bathroom/laundry area
This needs doing anyway, but I would have to extend it to their kitchen at extra cost.
2. Do a bit of electrical wiring to add a couple of power points in their area
Extra. I don't need it right now as I use extension leads to there. But pretty cheap line item and I can do the work myself.
3. Put in a dividing wall and insulation in the ceiling
I don't personally need this so this would be an extra cost
4. A bit of paint here and there
Some of this needs doing anyway
I think I could rent for about $90 - 100 per week, but it's not about making a profit. It's about pitching in towards the cost of keeping this place... and sharing our nice rural spot with someone else.
I'd probably have to spend around $15k to make this happen but some of the stuff needs doing anyway.
Is this a reasonable plan or a momentary lapse of reason on my part? I never really wanted to be a residential landlord....
My to do list:
1. Install hot water and shower for shared bathroom/laundry area
This needs doing anyway, but I would have to extend it to their kitchen at extra cost.
2. Do a bit of electrical wiring to add a couple of power points in their area
Extra. I don't need it right now as I use extension leads to there. But pretty cheap line item and I can do the work myself.
3. Put in a dividing wall and insulation in the ceiling
I don't personally need this so this would be an extra cost
4. A bit of paint here and there
Some of this needs doing anyway
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