GMAC Real Estate Create Rentable Space in Your Second Home
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Create Rentable Space in Your Second Home

Takeaways

  • Even if your second home isn’t a rental investment there are ways to create rentable space in the house.
  • One way is to offer a “home office away from home” in your second home.
  • Another is to rent out an unused basement or garage.

Did you know?

  • Home offices are on the rise and entrepreneurs will often need a quiet work area even while on vacation.
A home office away from home is a rental investment. One way to create extra income from your second home without renting your entire property is to create a rentable space. The easiest way to do this is to offer storage area for rental. If your home has a garage that is almost always empty, securely lock the entryway between the home and the garage and instantly create a large, rentable area. An unused basement provides the same space. All you need to do is provide an outside entrance to the basement and make sure any interior doors to your home from the basement aren’t accessible.

Your rental market can be an independent agent, such as an Amway representative, who need to store sales inventory or supplies, or maybe a local small business owner who needs a little extra space.

Another way to create rental space in your second home is create a home office. Outfit a room that can be sealed off from the rest of the house with a desk, a separate phone line for a fax machine and high-speed internet access. This idea is particularly effective if your second home is in a resort area. Many people now work out of their home, and vacation accommodations probably won’t have a quiet area to get work done and make business calls. You can offer your home office away from home for daily, weekly or even monthly rental and earn income without renting your entire second home.

Search for Second Homes for Sale

To search for a selection of second homes for sale, please visit lifestylehomesearch.com, or visit the website of a GMAC Real Estate Office that serves the area where you'd like to buy a second home. To learn more about buying Second Homes or Vacation Homes, explore the rest of this section, or contact a GMAC Real Estate Agent.