So many people are looking for a home with a basement apartment in Toronto. In fact people are willing to pay a premium for it! Is it worth creating a basement apartment and renting it out or flipping it for a profit?
How do you go about creating a basement apartment? You call up the city and they don’t give you a straight answer (or better yet they don’t answer the phone). You search online and see several sources that provide different answers. How do you figure it out? What are the basic legal requirements here in Toronto?
When considering adding a basement apartment to a property, there are some building code issues that present more challenges in obtaining code compliance than other issues. What are these issues and how can you identify them?
Watch this video and you will be introduced to a full workshop that we have recorded for you to learn the key elements you need to know about creating a basement apartment in Toronto.
o How to legalize basement apartments in Toronto.
o The type of rents you can achieve in these basement apartments and why people want them.
o The demand for them in Toronto.
o How much value do they actually add to a property.
o Financing and Insuring houses with basement apartments.
o The costs involved in renovating a basement apartment.
o The local by-laws
o The building code requirements
o The fire code requirements
o The electrical safety authority
o Top 5 renovations to consider when renovating a basement apartment.
o What the building code inspectors are “calling home renovators out on”
o What happens if you get caught with an illegal basement apartment.
o The big expensive issues you can avoid when legalizing basement apartments.
o How to think differently when looking at properties. To learn how to see opportunities and convert them into cash flowing properties.
o And last but not least a very entertaining panel discussion with great questions from our audience and answers from our professionals.
o Andrei Angelkovski – Local Toronto REALTOR®
o Bob Abrahams – Architect
o Paul Schuster – The Fire Guy
o Tony Boyko – Manager of Building Code Inspections
o Jeff Reed – Renovation Specialist