Rentals in Westminster>Question Details

Smoky, Home Owner in Westminster, CO

We are in walnut grove and considering converting the finished basemnt into 1 bdrm unit with separate entrance. How much rent to ask?

Asked by Smoky, Westminster, CO Thu Nov 3, 2011

Our house is walking distance to golf course and running trails and close to off-leash park. The renter would have access to laundry and a patio and the home is well-maintained with several garden areas and large trees. The house itself has great curb appeal and is also well-maintained. Close access to freeway, Boulder, Flatirons, and approximately 15 minutes to the Community College.

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5
Please check with the city for permits. If you are not comfortable doing that, I can bring you up to date before you proceed.

Mike leeper
Web Reference: http://michaelleeper.com
1 vote Thank Flag Link Fri Nov 4, 2011
Maybe $600-$900, there are a lot of variables. Generally, the less you charge, the pickier you can be on selecting a tenant that will be easy to live with. The only people who are willing to pay top dollar are those that can't rent anywhere else.
1 vote Thank Flag Link Thu Nov 3, 2011
There are other items to consider like, Does the HOA or Zoning allow this conversion?
You may check to make sure you are ok.
The rent is up to you. There are many folks renting and I think a 2 bedroom is a little more in demand if possible. If not $1.00 per square foot is a good guideline or baseline.
Check online to see what is the going rates in the area. You may have to call on some rentals to see.
Brian
1 vote Thank Flag Link Thu Nov 3, 2011
Post the ad on craigslist and see what kind of response you get... My guess is $600 minimum (+ extra for utils)... up to $1100 for a "nice suite" that doesn't feel like a basement rental.
0 votes Thank Flag Link Wed Jan 16, 2013
I would check to see what the rental rates currently are for your area. After checking the local rental rate, consider any costs necessary for the conversion.
0 votes Thank Flag Link Fri Nov 4, 2011
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