By-laws in your town/city now support and encourage the creation of secondary suites (basement apartments, additions and in some cases granny suites, carriage houses and lane-way houses). The province encourages it and produced a helpful guide to adding a second unit in your home.
- generate $100's in monthly income (net of construction costs) to help pay off household debt, support family, enjoy travel/retirement or other goals
- increase the value of your home
- help an individual or family move forward in their life (see below)
- assistance around and in your home (shoveling, gardening, lawn maintenance, etc.) provided by your new tenant(s)
- tax deductions and savings with utility costs, repairs, mortgage interest and other expenses
*Every client we work with has unique needs and opportunities. Please contact us to discuss how this initiative will work best for you!
Over 200,000 applicants are in need of affordable, dignified housing in Ontario. One third of them are seniors, another third are families and others are individuals of all ages. By creating a secondary suite in your home or on your property you can serve to change the lives of the adults and children you rent to!
They pay 30% of their gross household and your local (municipal or regional) government will pay you the balance in the form of a rent subsidy directly deposited into your bank account on the first of every month. As their income changes so does their subsidy
Tenants are very thankful for their housing and respect the property and others living in the home and pay their rent on time. They do not want to risk losing their rent subsidy.
The monthly rent for bachelor, one bedroom, two bedroom and three bedroom apartments varies from area to area.
The government will also pay for any time he apartment is vacant and provide additional supports.
Check out the bylaws and housing needs in your area!
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