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Portable Tenant Screening Report: A Comprehensive Guide
Discover the benefits and considerations of Portable Tenant Screening Reports (PTSRs), which offer a cost-effective, reusable screening option for tenants and require...
An accessory dwelling unit (ADU) is a self-contained living space that is an extension of an existing property. Also known as mother-in-law suites or casitas, ADUs have their own kitchen, bath, and sleeping area, but it couldn’t be sold on its own as a separate property. An ADU might be attached to the main property or could be built as a stand-alone unit, but it’ll generally make use of the water and energy connections of the main property, Investopedia notes.
There are six main types of accessory dwelling units, according to the American Planning Association:
Great question! The answer varies depending on where you live, so be sure to check your local zoning codes to see if you can build an ADU. If you live or manage property within an HOA-run area, check with them as well to avoid any potential issues.
So, should you create an ADU to supplement your rental income? The answer will vary from landlord to landlord, particularly because zoning laws ban ADUs in many parts of the country. But assuming you’re legally allowed to have an ADU on your main property, it’s important to understand the benefits and drawbacks as outlined by Investopedia to get the complete picture.
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