How to convert a finished basement into a (legal) apartment for additional income

For most homeowners, the basement is just a beautified storage space. Even a finished basement often presents challenges.Most of us default to Throw your old rugs, sofas and TVs out there Call it an “entertainment” space or “man cave” and never use it.or if it is Musty A hoarding maze that traps unfortunate visitors. But if you want to increase your income, the basement is a great opportunity because you can turn it into a legal apartment and borrow money.

Once your basement is complete, the process of converting it into an actual apartment is legally fairly straightforward, and the economic benefits can be enormous. Beds cannot be set up and rented out. You need to make sure the location is safe and legal.

What do you need for a basement apartment?

First and foremost, a disclaimer: you should check your local building codes and laws. I need to get a residence certificate for my new apartment. In some areas, basement apartments are outright illegal, and different local governments have different requirements for legal apartments. Before you do anything, check what you have. In particular Must contain:

• size. your local housing authority Minimum size requirement For legal apartments. international residence law (IRC) requires at least one room with 120 square feet of living space. Many states in the US simply follow that minimum, while others increase the number slightly. Also, you need to consider the height of the ceiling. IRC requires at least 7 feet. This can be difficult in basements, especially if the ceiling needs to be drywalled to enclose ducts and wires. Again, local building codes may deviate from that minimum.
• access. To be a legal apartment, prospective tenants must have a private entrance. No need to climb stairs or go through the main house to get in and out. You should also check your local fire code to make sure there are no additional requirements. Also, some local governments may require his second exit from the space. This could be an “exit window” (see below) or a second door.

• windows. Basements tend to be dark spaces without many windows and this can be a problem for you. windows) are required, and many areas have standards for height above the ground. Every aspect of windows has unique requirements, so make sure you know what you need.

If you’ve made sure you’ve met these basic requirements, congratulations! You can turn your basement into a legal apartment. But there is still work to be done.

Add access to the bathroom and kitchen in the basement

If your basement already has a bathroom and kitchen, you’re golden. If not, see if you already have the necessary “rough” plumbing and electricity. Many builders include it in case the owner wants to finish the basement later, or if the previous owner started remodeling the basement and then gave up.

If the plumbing is not roughened, it should be done. Because livable apartments generally require access to a bathroom and some kind of kitchen.according to home adviser, the basement rough-in cost about $4,000, and the total cost to add a bathroom to the basement would be $6,000 to $15,000.A kitchen rough-in costs about the same as a real kitchen Will run you in the $1,000 to $20,000 range Depending on the size and luxury you decide to go for.

It is not necessary to divide the basement into different rooms, as long as there are enough windows to meet local regulations. You can call an apartment a studio and use furniture to define different spaces. may not be a bad idea.and you don’t Have To separate utilities you can include them in your rent if you don’t want to bother. But the apartment needs heating.

Another consideration is humidity and water. In many areas, the basement apartment must be waterproofed in some way. If your basement is complete, this may already be done, but you’ll want to make sure it meets your apartment’s standards. If not, you’ll need to complete that task before you can legally rent the space.

Finally, you may need to inspect your space for mold, lead, asbestos, or other problems. Again, before you can get an occupancy certificate and start renting a place, you need to find out what reports you need to get.

Whatever you do, don’t be tempted to abandon your legality and rent a space under the radar. and if a tenant cheats on you, you have fewer legal options to deal with it. , the potential income may be worth it.