Robert Smith - Westborough MA Real Estate, Northborough MA Real Estate, Southborough MA Real Estate


Rent out your basement and you could offset at least half of your monthly mortgage. The extra money could put your dream home within reach. It could also help to keep you in your home if you signed an adjustable rate mortgage and rising interest rates have increased your monthly mortgage. But, are you ready to be a landlord? Factors to consider before you rent out your basement Are you ready to share your home with strangers? This may be the most important question to ask yourself before you advertise for renters. Sure. You'll come to know tenants over time, but you're taking a chance at the start. If you're ready to rent out your basement, familiarize yourself with area renter laws. Local licensing agencies should be able to tell you whether or not your basement is up to code and meets city requirements. Things that you may need to consider include whether or not your basement is finished, has an emergency exit, a bathroom, bedroom, sufficient lighting, windows and proper insulation. A separate heating and cooling source are generally required should you rent out your basement. Again, consult local licensing agencies. Once your basement is up to code, start to think about what you'd want in an apartment that you were renting and living in. Offer an attractive living space You want your basement rental to be desirable to renters. You also want the space to successfully compete with area apartments. Decide if you'll allow tenants to park in your driveway or ask that they park on the street. If you build windows, partitions and separate rooms with doors in the basement, pay attention to the types of windows and doors that you install. Are you going to go with double hung or casement windows? Door types to consider include wood, steel and fiberglass doors. Features range from trim, sidelights and finishing to colors and transoms. Get to know potential renters Perhaps even more important than ensuring that your finished basement is up to local code, is renting to the right tenants. Definitely get a thorough background check on potential renters. Check criminal, financial and other court records. If you have children, ask yourself if you prefer to wait until they are older before you rent out your basement. Also, interview people who want to rent with you. Make sure that you communicate well and that your personalities gel. Decide if you want to rent to tenants who have pets, and, if so, what types and size of pets would you allow inside the basement? This information goes both ways. Let renters know if you have pets, as some people do not want to live near dogs, cats or other animals. Set legal boundaries. Let tenants know if you they can or cannot blast their music or television and if tenants are allowed to have visitors stay with them for days at a time. Be clear about whether you will allow tenants to have pets, and, if so, which types of pets. Determine what the monthly rent will be. Consider consulting with an attorney to draft a rental agreement. Items to include in a rental agreement are the legal names of occupants, whether trash, sewage and utilities are included in the rent and when you will walk through and check the basement. Some cities require you to give tenants no less than a 24 hour notice before you enter a rental space. Be prepared to make repairs, as needed. You don't have to make repairs yourself. However, it is advisable that you a reputable repair professional's contact information.


11 Arrowhead Lane, Westborough, MA 01581

Single-Family

$997,500
Price

11
Rooms
4
Beds
5/1
Full/Half Baths
Walnut Knoll Estates! As you drive up the stone-wall lined driveway & view your soon-to-be new home awaiting you at the top of a private & stunningly landscaped yard, you'll begin to appreciate all this home has to offer. Those who enjoy being the chef of the home will love the gourmet kitchen w/cherry cabinets, granite counters incl. a spacious center island, gas cooktop w/vent hood, & top notch appliances. The admirable 2-story family room w/one of the two fireplaces in your home is incredibly light, bright, full of natural light & leads out to the oversized deck ideal for lively relaxation in the warmer weather. The expansive finished lower level has a wet bar, game room, & private guest room. Organize your wine collection in the separate wine cellar, & whether you work at home or enjoy escaping with a good book, take your pick from the library w/built-in shelves or the private office. A popular & bustling community known for its well-ranked schools, come, make Westborough home!
Open House
Saturday
June 24 at 1:00 PM to 3:00 PM
Cannot make the Open Houses?
Location: 11 Arrowhead Lane, Westborough, MA 01581    Get Directions

Similar Properties




11 Arrowhead Lane, Westborough, MA 01581

Single-Family

$997,500
Price

11
Rooms
4
Beds
5/1
Full/Half Baths
Walnut Knoll Estates! As you drive up the stone-wall lined driveway & view your soon-to-be new home awaiting you at the top of a private & stunningly landscaped yard, you'll begin to appreciate all this home has to offer. Those who enjoy being the chef of the home will love the gourmet kitchen w/cherry cabinets, granite counters incl. a spacious center island, gas cooktop w/vent hood, & top notch appliances. The admirable 2-story family room w/one of the two fireplaces in your home is incredibly light, bright, full of natural light & leads out to the oversized deck ideal for lively relaxation in the warmer weather. The expansive finished lower level has a wet bar, game room, & private guest room. Organize your wine collection in the separate wine cellar, & whether you work at home or enjoy escaping with a good book, take your pick from the library w/built-in shelves or the private office. A popular & bustling community known for its well-ranked schools, come, make Westborough home!
Open House
No scheduled Open Houses

Similar Properties




4 Reed Ave, Westborough, MA 01581

Single-Family

$749,900
Price

10
Rooms
5
Beds
3/1
Full/Half Baths
Buyers had to withdraw due to personal reasons .Welcome to Westborough Chase! This splendid Colonial is back on the market! Nestled down off the street, providing privacy in a much sought after neighborhood of luxurious homes. This desirable floor plan has a 1st-floor office, eat-in kitchen w/ loads of cabinetry, granite counters, upscale Stainless Steel appliances, coveted gas cooking which flows into a family room w/ back staircase leading to the spacious 2nd level. Open concept dining & living rooms w/ custom moldings and hand painted walls and ceilings. The expansive master suite has 2 walk in closets, master bath has /tub, shower and dual sinks. The 5th BR on 2nd floor works great as a guest room or bonus room. The finished walkout lower level is complete w/full bath that could be a play Rm, media Rm, home gym and/or au pair suite. Sunny 3 seasons porch overlooking private backyard. Space and storage abounds in this pristine lovingly cared for home by the original owners.
Open House
Saturday
June 24 at 12:00 PM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 4 Reed Ave, Westborough, MA 01581    Get Directions

Similar Properties




4 Reed Ave, Westborough, MA 01581

Single-Family

$749,900
Price

10
Rooms
5
Beds
3/1
Full/Half Baths
Buyers had to withdraw due to personal reasons .Welcome to Westborough Chase! This splendid Colonial is back on the market! Nestled down off the street, providing privacy in a much sought after neighborhood of luxurious homes. This desirable floor plan has a 1st-floor office, eat-in kitchen w/ loads of cabinetry, granite counters, upscale Stainless Steel appliances, coveted gas cooking which flows into a family room w/ back staircase leading to the spacious 2nd level. Open concept dining & living rooms w/ custom moldings and hand painted walls and ceilings. The expansive master suite has 2 walk in closets, master bath has /tub, shower and dual sinks. The 5th BR on 2nd floor works great as a guest room or bonus room. The finished walkout lower level is complete w/full bath that could be a play Rm, media Rm, home gym and/or au pair suite. Sunny 3 seasons porch overlooking private backyard. Space and storage abounds in this pristine lovingly cared for home by the original owners.
Open House
Saturday
June 24 at 12:00 PM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 4 Reed Ave, Westborough, MA 01581    Get Directions

Similar Properties





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