Angelo and Joyella
Here we are in the Upper Beaches of Toronto. It took the owner $40,000 to completely renovate and finish this basement apartment from scratch. This will now allow the owner to attract a different tenant profile who will pay a premium of $1200 / month of rent for this 1 bedroom suite. In this video you will see the quality finishes used and some of the important factors considered in order to get the higher rent. For example, private ensuite laundry, granite counter tops, electric fireplace, high ceilings, good size bedroom, and open concept layout. The bathroom and kitchen are both very modernized. This renovation is an excellent model to follow if you were to create a quality basement apartment for rent. The General Contractor, Peter Glaw, is interviewed in this video and walks us through the apartment. He explains some of the challenges that were faced, but more importantly how they stayed on budget and on time! After renting the main floor for $2300 and the Basement for $1200, the owner will be cash flowing $700-$800 per month after all expenses!