Category Archives: RENTING

Thinking of renting your basement to make extra money?

Many tenants are seeking affordable house options - here is how to rent your basement to make extra money

Many tenants are seeking affordable house options – here is how to rent your basement to make extra money

The Greater Toronto Area is premier destination for many new immigrants and the population of this region is expected to grow to 4 Million people by 2030. Mississauga alone takes approx. 35,000 new immigrants every year. Also Region of Peel has the longest waiting list for social housing in Ontario, upwards of nine years. To meet this annual growth in population and affordable housing needs, options like Second Units, also known as basement apartments or in-law suites have been identified as a way to provide healthy and safe housing choices to households, with affordability issues. With the average cost of a detached home in Mississauga now at $713,000 and increasing every year, second units are also a part of the City’s Affordable Housing Strategy and Action Plan. As well, second unit are also an excellent opportunity for home owners to realize extra income.

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