Archive for April, 2013

To have or Not to Have: The Basement Apartment

on General, investment property, Landlord, real estate investment, rental, tenant, Toronto April 12th

rental houseWhen and where are basement apartment a good idea?

If you are a first time buyer and you want to use the extra income from a basement apt. to help pay down your mortgage, a basement apt can be great.

If you have purchased an investment property in a trendy downtown location that has a basement apt that will attract good tenant then this will also work. The apt is likely close to public transit so parking is not an issue. There will be a choice of tenants applying so you can choose one that has good credit without having the unit vacant for a long period of time.

In these two scenarios that basement apartment can really work for you. Read more »