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Basement to rent: Are you sitting on an extra income? 

New York’s property market is well known for its extremely high rent owing, among other things, to the sheer number of people who want to call the city home. While most of us are familiar with this reality often ordinary homeowners do not see this as a potential market opportunity for them to exploit.

The idea of being a landlord will often conjure up images of people with large property portfolios including hundreds of apartments in high-rise buildings. Indeed, some of these images may even have negative connotations to some people. This clouds the mind to the potential opportunities New York’s rental market may afford ordinary people.

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Apartments New York

Opportunity knocks:

A growing number of New Yorkers are beginning to enter the market as small-scale, “live-in” landlords. What this means is that, after undertaking conversions of spaces like basements, garages, or garden cottages, people are renting them out as one-room apartments to young professionals in New York. There can be multiple benefits to both the tenant and the landlord in this kind of situation.

For tenets, renting in a situation like this means

  • Direct & personal relationship with the landlord
  • No need to deal with agents of a company that owns multiple buildings
  • Monetary investment

According to the New York Times, rent in the city is averaged out at $4.98 per sq foot per month. This represents a great financial benefit for the would-be landlord. The question remains, however, how does one prepare their basement to rent?

Clearing up the basement

Tips for renting your basement:

  1. Make sure you know what you have: According to New York’s Department of Buildings, not all basement are created equal. There is a distinction to be drawn between a basement and a cellar. Basements are legal to rent, cellars are not. For a room to be classified as a basement it needs to have at least one half of its height above curb level.

  2. Make sure you are legal: There are other legal requirements to meet before renting your basement. These include rules about minimum ceiling heights, lighting, ventilation., sanitation and damp-proofing. There may also be specific insurance requirements. Ensure you are on the legal side of these regulations before renting.

  3. Invest in quality renovations: When renovating your old basement to a modern apartment, it may be tempting to go for a cheaper option to maximize profits. Resist this temptation. Investing in quality renovations will pay off for you. You will not be required to do expensive repairs or improvements at a later date and you can even ask for an increased rent in the short term.

  4. Engage a trusted agent: Now that your basement is newly transformed, it is time to put it out on the market. Engage a trustworthy agent to ensure that you are put in touch with a tenant you can trust in your new space. This will save you the hassle of searching for a tenant yourself.

Storage concerns:

Of course, not many of our basements sit empty. Especially not in a claustrophobic city like New York. The chances are that you are already using the space to store items for which you just do not have space in your main house. Although this is an obstacle to anybody wanting to put up their basement to rent, it should not stand in the way of what is assuredly a fantastic investment.

This is why, part and parcel of deciding to take on the challenge of entering the property market, is also considering a storage solution that is right for you. This will mean exploring your options which, in New York, may mean scrolling through page after page of self-storage lockers with no discernable difference between any of them.

Self-storage is something of an institution in New York but it does bring with it a range of concerns for one, you are solely responsible for

  • The stress and hassle of transporting items to and from your self-storage facility
  • You are responsible for storing items correctly

Another option to look into is that of full-service storage. What this means is engaging a company that is responsible for your entire storage experience. A full-service storage is solely responsible for the following:

  • Pick-up your items
  • Transport your items
  • Storing your items
  • Returning your items

This way will take the stress off of your shoulders, as well as decreasing the risk of damage during transport or storage.

Full Service Self Storage

Boxie24 is New York’s market leader in this category of storage. With extensive experience helping clients in three countries, Boxie24 can ensure you a stress-free experience that will leave you wondering why you ever considered self-storage at all.

Our storage experts will be with you from your first quote to your return delivery, meaning they will know every little detail of your case inside out. Let us handle the storage, and you can go ahead and begin to take advantage of the opportunity right beneath your feet. If you are interested in our services, get in touch for an obligation-free quote at 844-337-7739.

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Customers rate Boxie24 with 4.9 based on 500+ reviews

Katie B.

“Pick-up of my furniture and boxes worked out great. They also came up with a customized solution for me. Can highly recommend!”

Brooklyn

Helen L.

“Great experience and I'm recommending to everyone. Gave me a fair quote that also included moving my stuff, loading/unloading, and storage.”

Manhattan

Radhika K.

“5 stars! Friendly, attentive, reliable, on time and fast. And a very good price for high quality service. We would book again any time.”

Queens

Ferny F.

I looked all over for reasonable storage to take care of my stuff while I'm out of the city indefinitely. Boxie was super helpful and easy. Kevin worked with me to find exactly the right storage unit for my stuff and went over the pricing with me very patiently. On the pick-up day, the movers were a little late but they worked so fast it was all over by dinner time. They were friendly and professional. I'm so grateful.

New York

Hannah M.

My family is so grateful to have such a professional working team to move our stuff into storage. From the beginning James communicated really well and answered all my questions and made the process easy. Boxie 24 was the one good thing that worked for us! I will definitely be recommending these guys to future clients and friends. Certainly in our next move.

New York

Sarah B.

Wanted to update my review after we received our items back. Again, 100% effortless process. The guys showed up on time, dropped things off and then came back for the boxes once we had unpacked. We feel so lucky to have found Boxie in the mess of terrible moving & storage companies out there, these guys stand above the rest. If we ever fall out of our post-Marie Kondo lifestyle again and need storage, they will be my first call.

Manhattan

Helen L.

“Great experience and I'm recommending to everyone. Gave me a fair quote that also included moving my stuff, loading/unloading, and storage.”

Manhattan

Radhika K.

“5 stars! Friendly, attentive, reliable, on time and fast. And a very good price for high quality service. We would book again any time.”

Queens

Rent storage space with Boxie24: like self storage, but better!

1.

YOU SELECT

Select your required storage space. But don't worry, you only pay for what you really need.

2.

WE PICK IT UP

Our movers help you get your stuff into storage safely, and you don’t have to lift a finger.

3.

WE STORE IT

We store your items safely and securely for as long as you need us to.

4.

WE DELIVER

Whenever you want your items returned, we’ll bring them back to you.


On-demand storage: We pick up, store & deliver!

10,000+

Satisfied customers

50+

Modern facilities

1,000,000+ sq ft

Space available

Any questions?

You can easily order our moving boxes and moving supplies online. Please visit our Online Shop.

We currently serve the cities Berlin, Hamburg and Munich.

Every box has a volume of 67 liters and a size of 60 x 40 x 37 cm.

You do not want to wait for an answer? Take a look at our FAQs.

In case of short-term changes of your reservation, concerning today or tomorrow, please give us a call.

How much is the pick-up?

The pick-up is free of charge up to a storage size of 5' x 10' from the ground floor, 1st floor, 2nd floor and from buildings with elevators. For all other jobs we charge a small pick-up fee.

Do you also pick-up outside of the city area?

We do pick up outside of the city. Please reach out to us for an individual offer.

Would you like to change your pick-up appointment?

You can always cancel a pick-up appointment free of charge up to 48 hours in advance. Please note that we have to charge a cancellation fee for appointments that are being cancelled on short notice. Less than 48 hours in advance: 50% of one month’s rent. Less than 24 hours in advance: 100% of one month’s rent.

Please provide us with all relevant information on your return, e.g. detailed description of items for partial return, parking situation, name on the doorbell etc).

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