basement storage access?

[timewithkids]

Evening everyone, I have just taken posession of a triplex and am planning to add storage lockers in the basement. I am wondering if the tenants should have their own keys to access the area (where they will be built is off of the common laundry area) or if they should be supervised while they have access to the area. Also, should there somehow be theft from a locker that is separate from the appartment units, is this likely still covered with tennant insueance?
Any suggestions or comments would be greatly appreciated, Brian

 

[brad]

Hey there Brian, I guess great minds think a like

, I too am considering adding storage in the basement of my duplex and would like to know the answer to your exact question. Hopefully someone will have some advice for us. Cheers.

Brad Hamilton

 

[Ready4Rent]

Brian,

I would go ahead and build the lockers, make them sturdy enough that it would take some time to break into them. Give the tenants access to the area. (the last thing you want is 3 calls a month to let them into the area to get something they need from storage). Charge a minimal fee to rent the locker. (separate from rent, that way if they don`t pay their locker fee you can seize whats in there). Most importantly, get them to sign a form saying you are not responsible for theft/damage/etc of the contents)

Hope this helps

John

 

[GarthChapman]

Great income generating idea! Their Tenant`s Contents Insurance should cover them for any losses, as long as it is secure storage. You may want to advise them to confirm this with their insurer, and that your insurer will not cover them - do this as a line item on the written agreement that John recommends.