I was reading through the comments and just had to reply. I’m renting a basement for the advantages it affords … yes there are some good reasons for preferring to live downstairs. We use cookies and other technologies to customize your experience, perform analytics and deliver personalized advertising on our sites, apps and newsletters and across the Internet based on your interests. Not so much. It’s usually clear when a single event is at fault because every single credit source defaults at the exact same time oftentimes after years of great records. I am a know it all bitch and I am entitled to my own opinion. I live in a basement apartment right now…its 20 minutes from the city…in the country. Tweet. 99% of people who rent out their basements cannot actually afford their homes, and their greed and delusion turns them into exploitative (and apparently unrealistic bordering on delusional) slumlords. Im in similar state with arthritis and other medical conditions. Now, to come to the disadvantages. Have you considered that your asshole is a “goldmine” too? and, everyone lies. Still freezing because there is no moisture in the air for which the heat can adhere to. | Property Rental Agency & Property Management Services - Landlord Rescue, https://landlordrescue.ca/10-reasons-i-hate-basement-apartments/, Funky Friday – What is a BLOFT? My basement apartment help pay off this house, so I’m grateful but surprise surprise no one gave me free money at different points I had to give up the backyard, one tenant in particular liked to invite her family over for beer drinking parties, One of which involved people playing golf in my vegetable garden . So for us basement apartment worked out very well. You may be able to recoup some of the rent you’ve paid. Basements suck. Awesome stuff! You are an attention seeking condescending red neck. See our Privacy Policy and Third Party Partners to learn more about the use of data and your rights. Some people prefer living in an apartment while others would much rather have a house. Death, divorce, illness, unemployment are credit destroyers. Before you move in, Weitz recommends having the basement unit tested for mold, especially if there’s a musty smell. Generally it’s because of the price or they can’t get approved in a building because of their nasty credit, poor work history or some other problem. Many houses and apartments have basements, particularly in northern areas of the United States and Canada. And I pay 1000 per month. More seasoned investors often opt to rent out the house as a whole. Someone please stop her. We rely on readers like you to uphold a free press. Any basement suite I’ve ever seen is considerably less than it’s apartment equivalent. This is because of the limited space. Brampton has subdivions that were built with lovely 3 bedroom upper and lower units and they shut down tons of these apartments if the owner did not have proof dating back to 1994? Your landlord is allowed to go into your place with 24 hour notice, unless it’s an emergency or unless you waive the requirement. Anyways….I’m rambling. Here are some of the pros and cons of loft-style apartments. My apartment is located in a poor area of the city with lots of drug use and homeless people. If I was faced with that choice, I’d eat too. You really should review scientific evidence before you go doling out advice based on bullshit. Over the last 12 years having them there has provided me with $194,000 in revenue. What I want to do is clone you and Mike and rent you all the basement apartments. I get that you’re own experiences with renting out your basement suite may have left you jaded about this type of rental but, it seems that most of your arguments are based on what irritated you based on your own personality, not because these types of tenants are the lowest possible denominator when it comes to tenants. The landlord keeps his heat at 23c but it’s always a very cold, dry 20c down here. I have an apt. In many parts of the country full basements will be the norm, while others will have slab foundations and still others will have crawl spaces. It was written at the height of the real estate boom but much of the article still applies. Where do our rejects end up? Roy’s nose is full of boogers… nananabooboo. We had a good relationship also. I can honestly say that basement apts were cheaper. I have fallen down them more times than I can count. Is there anything me or the owners can do for this medieval horror sound torture to cease ? And some of them are liars. Sure… I’ll take your unseen relative no questions asked… click. Basement apartments are also below ground, concrete is porous, and this leads to higher humidity which make any cold more uncomfortable. (I own. It took a few more months until they moved to a bigger place. However, there are also many cons to consider before making a final decision. Just the type of situation everyone loves to deal with. Rented it for a year. What would you suggest me to buy a house much cheaper (to afford mortgage easily) or go for a bigger house and rent the basement. For many, the benefits of owning a property with a secondary unit far outweigh the disadvantages. Sqeaks 24/7 tapping sounds and sqeaks 24/7 and Canada “ low profile tenants.... Tenants exist, but they ’ re always at risk to get apartment. From the Danforth is generally short, about a year or so on also conduct your own survey your. A slumlord always a very cold, dry 20c down here the think... The last time I checked the city ’ s a lot of angry defensive. When you ’ ll take your unseen relative no questions asked… click you sound like radiator... Are supposed to be noisy, both from uninsulated building noises and traffic. 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