We haven’t discussed basement apartments for a while… and it’s the main focus of today’s episode. It’s dangerous to advertise a home as having a basement “apartment” when it’s not really legal.
Do people rent basements that are not legal? All the time. But here’s a good article about what COULD happen if you get caught.
Here’s a handy guide about basement apartments in Milton. The Places to Grow Act has mandated that municipalities must allow for more secondary suites in homes, but the timeline to implement has been left open.
Oakville recently proposed an initiative to create a registration system (following precedents set by Waterloo, Hamilton and a few other communities), which would have been a blow to Landlords that have already had to deal with the flurry of new rules aimed solely at protecting Tenant rights.
The supply of rental options is very low, and we need to be very careful that we don’t choke too many investors and Landlords out of renting their properties.
Ontario is one of the strongest advocates for Tenants in all of North America… sometimes to the detriment of Landlords’ protection. I read this story recently about a Landlord trying to help a homeless man, only to be failed by a municipal program. Some might argue that “housing first” has helped hundreds of people successfully, but the bureaucracy remains an ongoing issue.
Well, that should be enough links for you. 🙂
Final note: THIS property is a fully legal and approved basement apartment, available for $1,300 a month starting December 12th or later.
If you’re thinking about becoming an investor, or if you know someone that wants to rent a home, reach out to us and we’ll do our very best to lay out all their options.