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Got a nicely sized basement in your house? Feeling tempted by the prospects of a regular rental income by putting up your basement for rent in Toronto? You are not alone. Thousands of homeowners have taken advantage of the sky high rents in Toronto and the GTA. In fact, whereas it was once just Toronto that was sought after, today a spacious basement for rent Brampton can be even more lucrative, with two or more tenants sharing the space.
Beware! Basements may be in high demand, but don’t make the mistake of thinking prospective tenants are willing to compromise. Competition from high rise condominiums is upping the ante. Today, a basement for rent in Toronto can’t be drafty, mouldy, wet or bare.
No, it needs to be professionally finished and must make a compelling proposition. In this article we are discussing some essential features that will help you maximize the rental value of your basement.
Give your basement the bling it needs to stand out
First and foremost, your basement for rent Brampton needs to make a great first impression. It’s so important to get professional basement renovation contractors for the job. There is nothing that drives away prospective tenants like DIY finishing – with all the rough edges proudly on display.
Get a team of professional basement renovation contractor and have your basement finished to a very high standard. Our team offers a full range of specialties, from painting to wood work and plumbing.
What’s more, we can offer incredible options for your basement which will really make it stand out:
These are complex installations and not to be recommended for DIY.
Features to get maximum value out of your basement
Building a lot of utility into your basement for rent in Toronto is essential to close that deal. When you choose us for your finishing, we will sit down with you to finalize your design. This can be to ensure:
An experienced team of basement finishers will also pay attention to the little details. These will greatly enhance the comfort levels of your basement raise the value your tenants will get.
Get the right basement finishing Toronto and you can give yourself (and your tenants) a lot more peace of mind.
How much can a landlord raise the rent?
Ontario’s new government has done away with rent control. This is a great opportunity if you are newly putting up a basement for in Toronto or basement for rent Brampton. In order to make sure your starting rent is at a satisfactory level before the guideline rent increase applies, do the following:
How do I rent out my apartment?
Before you can rent out your basement apartment for rent, you have to make sure it is compliance with the requirements laid down by your municipal authority. Speak to your basement renovation contractors about your desire to put the basement for rent. An experienced tea, will be able to advise you on property and occupancy standards, health and safety requirements and fire and electrical codes.
Then it’s just a matter of putting your basement for rent in Toronto on an online platform or listing it with a realtor.
Will basement finishing Toronto add value?
Getting professional basement renovation contractors will raise the value of your basement apartment significantly. There is a night and day difference between an apartment that is finished as a DIY project and one that is worked on by professionals. Not only the larger civil work that comes with professional basement finishing Toronto, even the little things (paint consistency, insulation, fixtures and fittings) need a professional’s touch.