You are looking to remodel your current home or property to create additional income. Generally, zoning authorities and subdivision stipulations are set up to be very cautious when reviewing such additions to a property.
Here are a few things to consider when seeking community approval.
1. How will the additional traffic affect the neighborhood as a whole and more importantly, on the block of our location?
2. Where will the parking be located and how will it affect my immediate neighbors and the appearance of the street?
3. If the addition is to my home how will it affect my residence and street view?
4. If the addition is a separate apartment or bungalow how will a new residence affect my current residence?
5. The cost of the completed project versus the potential rental income. How do they balance? Is this project cost effective?
6. How will the results of such a project affect the property for resale?
When reviewing these options for a remodel, it will become more apparent what the effect of such a project will have for you and your neighborhood. Be sure to evaluate the pros and cons prior to jumping into a remodel project. Consult a qualified Realtor and property manager, as well as, a real estate attorney with any questions and their advice will assist in all of your decisions for becoming a landlord.
For additional information on this and other renting articles, please visit our web site at http://www.mrpmrentals.com/
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