One of the easiest ways to make some extra income on the side is to rent out your garage space. There are more people than you think who would be happy to pay monthly for extra garage space to protect and store their belongings, such as high-end cars, motorbikes or household goods. Other people may just want a garage to park their car near their workplace or commute.
Although this seems like a great idea, it is essential that you consider the security of your garage and home before renting this space out. In most cases a garage is attached to a house or close to the property, so it is important that both the owner of the garage and the tenant both feel safe and secure throughout the whole process of renting out a garage space.
Security measures for you and the tenant
Security is something you will need to provide before you advertise your garage space. There are a few different elements to look at for all round protection, including:
Cameras
The number one security measure you should consider installing before any tenant uses the garage is a security camera set up; the more, the better. You should implement them outside the garage, outside your house and at all entry points. You can also ask your tenant if they would like a security camera on the inside of the garage. This will give you an idea of what they are doing with your space, but they may not be comfortable with this.
When you install cameras around your property, make sure they are of a high quality so they can detect anybody in the vicinity of the garage or the house. Security cameras with night vision also help to see clearly if there is anyone around the property at night. Cameras that come with an app should also have motion detectors, so they can alert you if they detect anything.
Locks
If the garage is attached to the house then use a high-end lock to keep strangers out of the house. You could even think about changing the door to an external door, but this is likely to be impossible for many homeowners.
Clear contract
Writing up a contract between you and the tenant will ensure financial security for both of you. The contract should specify terms that you as the owner of the garage are happy with; for example, updating the décor of the garage to suit the contents, or a small fee if they damage the area.
It should also specify that you as an owner should not enter the garage whilst the tenant is storing property there. Discussing the terms of the contact with the tenant before signing it is beneficial to both parties.
