Renters: Require opinions

Mickrz

Hello Renters, would-be-renters, and general passers-by.

Current situation:
One room rented out in my house and the 3rd bedroom (box room) is used as a small office/ study that a tenant can use for doing whatever they need to. It's handy to have and is a real plus. Now looking to convert the attic.

I'm converting my attic and have two options:
Option 1:
Add two bedrooms
Option 2:
Add one bedroom and an attic living room

My questions essentially is:
What is your idea of the rent differentiation based on one less tenant and there being more personal space available for everyone?

I personally think that the most you'll ever get for a room in a house is € 390.00 p/m. However, I believe that any room, no matter how small would go instantly for 290.00 p/m.

I'm looking for your opinion also on: Does being the 4th person in a house deteriorate your want to rent in any given spot as opposed to being the 3rd person? Would you be willing to pay a lot more given there was less people and more personal space?

Property is located outside Dublin city centre. Very quiet open space neighbourhood, parking, great sea views and plenty of outdoor space.
Assume house is slightly larger than standard 3 bedroom semi*

Thanks.
Any feedback would be greatly appreciated on your general opinions more so than the feedback on my plans and figures that I have listed above. All are only approximates and I understand there are variables.

nibtrix

How many bathrooms do you have? Big difference between three and four people in the house if there's only one shower!

Mickrz

There's two showers and 3 toilets in total.
I suppose I'm really just trying to gauge the effective rate that people put on the extra space that they have.

How much realistically are people willing to spend on having what could amount to their own sitting room? I dont believe people will pay € 40.00 p/m more on top of their rent.

The Big Red Button

So, the set-up is that you are owner-occupier in the house, with one tenant currently?

I'd go with adding two rooms - one bedroom and one living room - but I would leave it very easy to convert the "living room" to a bedroom with little additional cost and with very short notice, further down the line. In fact, I would go as far as leaving the extra room unfurnished for the moment, until you get the second tenant settled in. And then consider whether you're ready/willing to share with a third person.

Also consider whether your current tenant will seek a rent reduction for sharing with more people? This may be a very important factor in your cost calculations.

When you say there's three toilets and two showers - how are these currently shared out? As a tenant, having my own toilet/shower for my own use is a dealbreaker.