Editing 1course Real Estate (section)

==== Creating Separate Living Spaces ====
Maximizing rental income often involves creating separate living spaces within your property. Here’s how to do it:

# '''Basement Apartments:'''
#* '''Converting Basements:''' Transforming your basement into a rental unit can significantly increase your income. Ensure it meets safety standards, including proper egress windows and ventilation.
#* '''Finishing Touches:''' Install a kitchenette, bathroom, and separate entrance to make the space self-contained and attractive to tenants.
# '''Garage Conversions:'''
#* '''Converting Garages:''' Converting a garage into a living space is another effective house hacking strategy. Add insulation, flooring, and utilities to create a comfortable living area.
#* '''Separate Access:''' Provide separate access to the converted garage to ensure privacy for both you and your tenants.
# '''Building or Modifying ADUs:'''
#* '''Accessory Dwelling Units:''' Consider building or modifying accessory dwelling units (ADUs) on your property. ADUs can be standalone structures or attached units, offering flexibility and additional income potential.
#* '''Design and Layout:''' Plan the design and layout of your ADU to maximize space and functionality. Ensure it includes essential amenities like a kitchen, bathroom, and living area.