Benefits + Costs of having a Residential Suite

If 1/4 of Canadians are choosing to be landlords, there must be a good reason why.  Living in the Vancouver area and/or suburbs is down right expensive and with high living costs it makes sense for many homeowners to create a legitimate income stream that they’re in control of. If you have a nice, renovated suite  its highly probable that you will attract quality tenants that are professionals. Good tenants will help you build equity in your home, create your personal networth faster and take care of your home just as well as you do.  Being a landlord isn’t for everyone, but  a “suite” can serve its purpose in other ways:

  • in-law suite
  • nanny suite
  •  bed and breakfast
  • home based business such as a hair salon

Here’s our LDL document which looks at the benefits and costs of a secondary suite. We are always happy to answer any questions you might have, so let us know! We are all about educating our clients so that they feel at ease and confident in decisions they make throughout a renovation.

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Jason Lorenz | Owner | 
jason@lorenzdevelopments.com

Squamish: 604 892 7652
Vancouver: 778 378 7652

 

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