Benefits of having a Secondary Suite:

• Mortgage Helper: You can generate revenue by renting that space in your basement that you probably don’t use, the investment in finishing your basement is low compared to the income that will generate once you have tenants.
• Return on investment: Once your home has a secondary suite it can be sold quicker in case you want to sell it, a home that comes with a revenue generator space is more likely to be bought in short time.

Usually Secondary suites require:

• A rentable space less than 968 SF
• A fire separation of min 30min from the rest of the house
• Means of egress in all bedrooms
• One parking spot for the secondary suite
• A separate entrance

Some Cities require:

• A private space in the side or backyard for tenants