Need some help and input on how to update my place. I posted recently that I think I need to revamp my situation. Quick description, I have a 3 bed/3.5 bath cabin on a river in the mountains. There is also a detached garage with a loft apartment above. I’m about to place my husband in assisted living so don’t really need the big cabin just for me, plus could also use an income boost. I would be quite happy living in the loft apartment, so would move over there.
I am planning some remodeling to get it up to par with other rentals in my area. I have the opportunity to split the huge 3rd floor bedroom into 2 bedrooms with a bath between, so the house would be a 4bed/3.5 bath when done.The basement level bedroom is also very large and I was planning on making it a bunkroom with 2 full beds with a twin above each.
That level also has a living room. Someone suggested I put a kitchenette in that living space and set it up so I could rent just that floor to smaller groups(probably guys who come to go mountain biking or fly fishing in the area). I could also then list the upper 2 floors as it’s own rental for people who don’t want the whole place?
The way the lot is set up it would be hard to rent the 2 parts to 2 different groups at the same time as parking could be an issue, our HOA allows for 4 cars max for STRs. So basically you could rent the basement small unit(sleeps 4?) or the upper 2 floors(sleeps 6 or 8 )or the entire thing for a bigger group, (sleeps 10 or 12). I guess I would have to put a lock on the door leading from the bottom floor and the upper 2 floors.
Is this making things complicated or is more options a good thing? I will be living right next door so will be able to monitor the number of guests I hope.
