Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago on . Most recent reply

User Stats

13
Posts
3
Votes
Jashan Mundi
  • Investor
  • Brampton, ON
3
Votes |
13
Posts

Basement Rental (Income, Legal, Recommendations, etc.)

Jashan Mundi
  • Investor
  • Brampton, ON
Posted

I'm curious about knowing the market for finishing and renting a basement to tenants.
I've targeted the Detroit, Buffalo, and Niagara falls markets for single and/or multi-family houses, but I'm interested to hear from any investor outside of these markets.

Here in Canada, it's quite common to rent the main floor and basement so an investor gets that double source of rental income. I'm not sure if the situation is any different over in the States.

1) What kind of rent can I expect with a finished basement?
2) Are there any legal restrictions and/or procedures that I should know about before finishing the basement?

Most Popular Reply

User Stats

22
Posts
18
Votes
Noah Gregory
  • Real Estate Agent
  • Golden, CO
18
Votes |
22
Posts
Noah Gregory
  • Real Estate Agent
  • Golden, CO
Replied

Agreed with @Kenneth Garrett make sure all space you plan to rent conforms with local laws. That being said you need to have a plan. Is this going to be a true split level such that both floors have full kitchen, laundry, entrances, etc. I currently rent in a basement like this and have all these separate from top level. It's also fine to have both floors share these but expect less rent as this is a more common house rental situation as opposed to two separate apartments. 

  • Noah Gregory
  • 720-355-6091
  • Loading replies...