Property Q&A in Sunland>Question Details

Sue Cameron, Other/Just Looking in Sunland, CA

How much does it change the rental values if there are unlisted factors? see below

Asked by Sue Cameron, Sunland, CA Wed Dec 4, 2013

There is a built out garage conversion behind the main house. It has a large main room used as an office, a tiny separate bedroom, and a 3/4 bath. The owner comes and goes using it a few times a week for unannounced overnight stays. Another room separated from the main room by french doors is rented out to someone. There is no kitchen. I would like to know the "actual" rental value of the front house.

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This question was asked from this property: http://www.trulia.com/homes/California/Sunland/sold/2450129-…

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There is no formula calculation for rental values. Comparable rental values in the area are generally a good indicator. In this case, it is very hard to say because there are many inconveniences to total privacy. So it would have to be just the right tenant. Therefore a low rent would be an inducement.
0 votes Thank Flag Link Sat Dec 7, 2013
The "actual" rental value of the main house would be the rent a tenant would be willing to pay for it. As long as the lessor is willing to undertake the liability for any unpermitted use of the garage conversion (permitted or not), any additional perceived value to a potential tenant would result in a greater "actual" rental value.
0 votes Thank Flag Link Wed Dec 4, 2013
Depends? Is the garage conversion legal (permitted and inspected)? Landlords face many legal issues and leasing a conversion that is not legal could create liabilities in the future. The square footage of the conversion cannot be included in the square footage of the property for sale if is is not a legal conversion.
0 votes Thank Flag Link Wed Dec 4, 2013
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