Garage rentals in Central NE Edmonton

[Don Leggett]

Hi,
We are wondering if anyone out there has some experience (past or present) with renting out their garage(s) in the Delton/Balwin/Killarney areas of Edmonton? If you have, do you rent them separately or as part of the residence?
We have one that is coming up in the next few months that is currently included in the main floor rent and were toying with the idea of renegotiating it out of the next lease term. Have heard from our PM that "no one" rents their garages separately in those areas because of the transitional nature of the areas and we just wanted to hear from others.

Thanks alot,
Don

 

[JohnS]

I`m not in Edmonton, and I don`t know the market there. However, the thought just popped into my mind that if nobody rents out their garages there, it`ll be pretty damn easy to corner the market!

Have a good one!

JohnS

 

[Don Leggett]

Thanks John.

I like the way you`re thinking. Sometimes the set of eyes that has no subjective context of the area has the clearest view.

Instead of asking "why?" ... ask "why not?"

Perhaps a review of the soundness of the garages, beef them up a bit where necessary and we just might be able to coax a few extra bones per month our way.

Have a great day!

Don Leggett

 

[JPAQ]

QUOTE (DonLeggett @ Jan 30 2008, 08:06 PM) Hi,
We are wondering if anyone out there has some experience (past or present) with renting out their garage(s) in the Delton/Balwin/Killarney areas of Edmonton? If you have, do you rent them separately or as part of the residence?
We have one that is coming up in the next few months that is currently included in the main floor rent and were toying with the idea of renegotiating it out of the next lease term. Have heard from our PM that "no one" rents their garages separately in those areas because of the transitional nature of the areas and we just wanted to hear from others.

Thanks alot,
Don

Hello Don,

People love renting garages in these areas. Your PM just does not want the hassel. Garage rentals are very stress free. I know because I have a garage rented in Montrose. It was rented before I put the add in the paper. If your PM does not want to make his cut from renting out the garage then you should rent it out yourself.

Cheers,

Jason
780 953 6794

 

[Don Leggett]

Thanks Jason,
Do you manage your own garage rental? Should I presume it isn`t rented to the tenant? Or if it is would you have done up a separate lease? ... or add the cost onto the rental rate?
That`s the way ours is right now ... added onto the rent. It`s just that it was an exisiting lease agreement when we bought the property and the rate for the double garage was very under valued at $75/mo

. Now that that the lease term is coming up we feel there is an opportunity for improvement and we`re trying to figure out the best way to go about that. Our thoughts right now are that a separate lease agreement, even if it is to the tenant, would keep it clear as to who is using what and it would also give them flexibility as to whether or not they want to carry on using the garage even though they continue to rent the house

.
Thanks again,
Don Leggett

 

[JeffSmith]

I have a garage rented to a car collector presently. REIN advises that you should use a warehouse or specific garage rental lease form which is available for dowload. I used it for my garage and am thankful for all the resources that REIN provides.

 

[GrahamWhite]

We rent out a couple garages in Calgary and Central Alberta and the tenants pay 6 months at a time or direct deposit into an account. They`re the easiest rentals we have.

As long as the garage is detached, it should be an easy extra $150 - $250/mo for you. I would recommend that you split it from the house rental only after a current tenant leaves or is due for a rent increase.