Opinion Residential

How to Rent Out Your Basement for Extra Money

Are you not sure what you can do with your basement? Does the idea of turning it into a home theater, personal gym, or workspace not interest you? If you have no plans of using the space for yourself, there’s another great option for you—rent out your basement for extra money! This way, the basement will be used and you will get some extra cash on the side. This article serves as your guide on how to make your basement a comfortable living space for a tenant.

Photo of a simple bedroom - How to Rent Out Your Basement for Extra Money

If you want to rent out your basement for additional income, there are a few things you should know.

Add Proper Lighting

Basements are usually dark and that can cause things to look a little too gloomy. If your basement has windows, it is important to make the most out of natural lighting. Overhead lighting is one way to make the room brighter and seem more spacious.

If the overhead lights aren’t enough to keep the room well lit, consider adding various light fixtures and lamps and the darker parts of the room. Proper lighting is huge when you want someone to be comfortable in a room.

Reduce Any Moisture

Because it’s underground, basements are often damp. Too much moisture can make the room uncomfortable and even inhabitable for the person staying there. One way of solving this is by installing a dehumidifier in the space. This usually fixes minor moisture-related issues.

If the basement remains damp even with a dehumidifier consider consulting an expert to waterproof the room. Too much moisture can eventually lead to puddles and leaks, which is something you and your tenant will definitely not want.

Add a Bathroom

If someone’s going to be renting and living in your room, they are going to want a bathroom of their own. There are certain upflush toilets such as the Saniflo SaniBEST toilet that can be installed below traditional plumbing lines, which will make it less expensive for you to set up.

Adding a basement sink and shower is also important. You do not want your tenant to be running upstairs every time they need to freshen up. Not only will adding a bathroom increase the chances of you finding a tenant sooner, it will also add a lot of value to your home.

Fix the Ceiling

A basement’s ceiling is usually not a pretty sight. Nails, pipes, ducts, and whatnot usually are left on top hanging. If you can’t remove them, cover them by installing drop ceilings. If your budget is tight, you can also paint the ceiling and everything that’s on it with a dark color so that any exposed fixtures won’t look like they are protruding. Also, consider soundproofing insulation help reduce any noise between you and your tenant.

Add Heating and Cooling Options

If your basement does not share the same heating and cooling system with your entire home, you should consider installing individual heating and cooling units fit for the basement itself. Adding the basement to your home’s temperature centralization can be very expensive.

Since basements are underground, it can be difficult to regulate its temperature. How cool and how warm a room can be should definitely be controlled if you decide to turn your basement into an extra living space.

If you’re looking to rent out your basement for extra income, these tips should get you off to a great start!

 

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About the author

Tre Pryor, Editor-in-Chief

Tre Pryor is the recognized expert Louisville Realtor who can:
  • List and sell your current home in Louisville,
  • Help you purchase your next Louisville home, or
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