A Quick Guide to Renting Out Your Unused Garage
A garage can be a handy addition to a home, whether it’s used for storing household items, parking the car or even as a home gym. However, not everyone has the luxury of a garage and may be in desperate need of a secure place for storage or parking. If you have a garage that you aren’t using, why not think about renting out the structure to those who need it and make yourself a little extra money? If this sounds like a good option to you, have a read through our guide to ensure you are well informed before you start the process.
Make Sure You Can Rent Out Your Garage
Firstly, it’s essential that you make sure that you are actually able to rent out your garage. If you are renting your home, you may need to check with your landlord first before you start putting ads out for your garage space. Even if you are the homeowner, it may be worth checking with your mortgage provider to make sure there are no objections from them. If you share a driveway with a neighbour, you should also check that they are happy for you to go ahead in order to avoid problems further down the road.
Prepare Your Garage for a Tenant
Just as you would if you were renting out your home, you should make sure that your garage is looking great for prospective tenants. If you are renting out your garage solely as a parking spot, you may still be able to store some of your own items inside, but make sure that it is looking neat and tidy. You should also remember that your new tenant will have access to anything you leave inside your garage, so avoid leaving anything valuable or fragile.
Your new tenant will be likely to be concerned about security, so installing a decent lock if you don’t already have one is a good idea.
Using a Rental Management Company
If you want to make things a little simpler, you can use a company that will manage the rental of your garage, taking care of everything from the advertising to the payments. There are a number of different companies which can offer efficient management of your garage rental, including:
Companies such as these will make it a lot easier to find people to rent your garage and will take away a lot of the stress of managing the garage.
Managing the Rental Yourself
If you choose not to use a company to manage the rental for you, you will need to sort out the details of the rental, from advertising the space to organising payments. You can try advertising on sites such as
It is a good idea to have a contract drawn up to protect both you and your tenant. Use a lawyer to ensure that this is all legitimate. You should make sure to specify a policy in the event of any damage to the tenant’s property and ensure that you uphold your responsibilities.
Deciding on Pricing
You may not really be sure about how much your garage is worth so it’s a good idea to do a little research to find out what others are charging in your local area. There are a few things to consider that could make your garage more valuable, including:
- Proximity to a major airport
- Proximity to city centre
- Proximity to a venue such as a sports stadium or music arena
- Security of property
- Public transport links
If you can find other nearby parking spots for let, this should give you a good idea of where to start with pricing.
Renting out your garage is an excellent way to make a little extra cash, and with our tips, you should be a little more prepared to take on the task.