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| Renting a basement in HV http://www.hawthornevillager.com/phpbb/viewtopic.php?f=1&t=6801 |
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| Author: | billgh [ Fri May 18, 2007 9:32 am ] |
| Post subject: | Renting a basement in HV |
I bought a house with unfinished basement, just wondering what are the chances of renting it and earning income on it, if I spend some money to finish it. Do any of you guys doing the same. And also if any if you guys can comment on what are the pros and cons of renting a basement. Thanks |
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| Author: | Matt [ Fri May 18, 2007 11:30 am ] |
| Post subject: | Re: Renting a basement in HV |
billgh wrote: I bought a house with unfinished basement, just wondering what are the chances of renting it and earning income on it, if I spend some money to finish it. Do any of you guys doing the same.
And also if any if you guys can comment on what are the pros and cons of renting a basement. Thanks Parking may be an issue unless you have a double driveway. There are also bylaws and codes if you want to be legit. Matt |
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| Author: | billgh [ Fri May 18, 2007 11:34 am ] |
| Post subject: | |
I have a double driveway so parking is not an issue, what I am interested in finding out is that how easy is to rent a basement in HV as compared to Mississauga |
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| Author: | Matt [ Fri May 18, 2007 11:37 am ] |
| Post subject: | |
My understanding is that there is very little supply of affordable rental in town. A lot of people have rooms for rent, but not really apartments. Matt |
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| Author: | csb101 [ Fri May 18, 2007 11:58 am ] |
| Post subject: | |
I think you'd be very successful with a basement appartment in this town seeing that there isn't very much affordable housing in Milton (plus people don't want it) so I think it's a good idea. My sis just got a basement appartment in town and it's so-so, so if you finish one, let me know and I'll tell her! 
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| Author: | Tim&Sandra [ Fri May 18, 2007 11:58 am ] |
| Post subject: | |
And most of the houses are not designed to have basement apartement. The people renting would have to come in your house to access their apartement. Sandra |
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| Author: | Jubilee [ Fri May 18, 2007 12:27 pm ] |
| Post subject: | |
Plus you have the worry of finding the "right" person to rent your basement. At our last house we rented the basement out to a professional man (a college teacher) and his daughter and it was a total nightmare. He seemed like the ideal choice for us but it ended up being a very, very bad situation. Make sure you are really sure that the little bit of extra cash you receive is worth the hassle. |
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| Author: | billgh [ Fri May 18, 2007 1:30 pm ] |
| Post subject: | |
Sure csb101 I will let u know once I finish the basement . I have a huge lookout basement with big windows and I can also make a separate entrance as well. If you don't mind me asking could you tell me how much rent your sister paying? |
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| Author: | csb101 [ Fri May 18, 2007 8:18 pm ] |
| Post subject: | |
Well my sis lives in a basement appartment in Milton, she did her research so it's legal I'm sure. I believes she pays $800/month all inclusive. |
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| Author: | colin b. [ Sat May 19, 2007 5:32 am ] |
| Post subject: | |
Sorry terrikyle but basement apartments are legal as long as they meet fire and building codes. There is hundreds of in-law or basement apartments in town on almost every street. You should check with the Town planning department at (905) 878-7252 and the Fire Department at 905-878-9251 to have an inspection if you are not sure is the apartment meets the code. Colin Best Local & Regional Councillor |
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| Author: | csb101 [ Sat May 19, 2007 9:37 pm ] |
| Post subject: | |
Well there has been safety issues before with basement apparentments but I think overall they are good because not everyone can afford to buy and there is not enough affordable housing in town. And it's a great way to suppliment your income or put towards mortgage
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| Author: | billgh [ Sun May 20, 2007 10:10 am ] |
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Does anyone know how much it will cost to make one bedroom apartment approx. |
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| Author: | csb101 [ Sun May 20, 2007 6:45 pm ] |
| Post subject: | |
'effects the quality of the neigbourhood'...now that's a bold statement. Don't share your view there but you're still entitled to it. |
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| Author: | JClayton [ Mon May 21, 2007 7:46 pm ] |
| Post subject: | |
For crying out loud! My one pet peeve about these kinds of message boards is how offended people get by other peoples' opinions. Who on earth could argue against what he/she said!?! If every house in a neighbourhood had another family living in the basement, simply the traffic would make the nieghbourhood less desirable, let alone everything that comes along with it. Who can argue with that? There is a reason that we all choose to buy houses in quiet subdivisions instead of living in appartment buildings. Just becuase you don't like crowds doesn't mean you're some kind of biggot! Grow up! And where does the race thing come into play? |
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| Author: | JClayton [ Tue May 22, 2007 7:23 am ] |
| Post subject: | |
Just ignore him/her. If you check out his past posts, they always seem to be in an effort to cause some kind of controversy or fight. He doesn't seem to offer anything or answer any questions. It's pretty obvious that he's got no good argument here when he plays the race card that prematurely. Anyways, back to the real topic, do renters need any special kind of permit, or does your appartment have to just be safe? Is there anything regulating the practice? |
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