Basement Apartment are legal in Ontario.

For those home owners, who has finished basement and has been built according to building code and fire safety code, now you can legalize any second dwelling in a single family home.  Bill 140 was changed to accommodate above mentioned change.

This change to Bill 140 allows basement apartments to become legal and which can be rented out.  

Due to this change, those who likes to buy a house with basement apartment can show bank, their current income as well as expected income from renting out the basement apartment.

And definitely this change will drive the demand for the houses with basement apartment. 

Best regards,

Ritesh JoshiYour Next Door Realtor

www.riteshtherealtor.com

647-281-3424