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How do I calculate rental expenses for a garage?
We rent out half or our 2 car detached garage to a friend for storage purposes and he also uses the area to work 2-3 days a week. There's a AC window unit he uses or a small heater as the weather dictates, but otherwise the garage is 'unfinished.' I'm confused about how to calculate rental expenses. Do I take the square footage of our house and garage and then figure out the percentage he is using? If he were renting a room in our house, it would be more straight forward, but I guess my holdup is that it's unfinished space. Does that matter?
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May 31, 2019
7:22 PM