September 1st, 2013
Do you have space downstairs?
Enough space to create a basement rental apartment?
If you do, and you live in Kingston, Ontario you are in luck.
Why not become a Landlord? The government is eager for you to invest.
According to a report in The Whig.com the City of Kingston wants house owners to use the downstairs space you have to make a basement rental suite.
Basement rental suites are also referred to as secondary suites. They also includee what are called “in-law” apartments or suites.
The Director of Housing for the City of Kingston is Sheldon Laidman.
Mr. Laidman believes creating these basement and inlaw suites can add to the city’s housing stock.
This way Kingston could have a larger supply of housing. With more supply, the price of rental properties will go down.
This will help renters, including seniors, caregivers, single moms, single dads, and students.
Laidman explains the creation of more affordable housing is a key goal for both the City and the province of Ontario.
We are seeing something similar in Mississauga.
He said earlier in 2013 Kingston council agreed to allow secondary suites / basement rental units in many areas of the city.
Before 2013 if you wanted to create a basement apartment the process was more complex, including the need to be re-zoned.
What makes this news exciting for potential landlord investors is the suggestion Kingston might create some financial plans to help potential landlord investors.
Although the initiative does not include any financial incentives, Laidman said there are a couple of plans in the works that could help foot the bill for a secondary suite.
These creative initiatives to help people invest and become landlords will be before council in September.
More information on the neighbourhoods covered by the initiative is available online at www.CityofKingston.ca/housing.
People can also call John Henderson, the housing program administrator, at 613-546-2695, ext. 4976, or email jhenderson@cityofkingston.ca.
We support making it easier for small landlords to create more safe and legal secondary suites.
We ask that cities such as Kingston also assist landlords in making sure the Residential Tenancies Act and the Landlord and Tenant Board are reformed. Changes need to be made, and fast.
Otherwise we warn the City of Kingston – many of these new landlords won’t be landlords for long.
How about City councilors bring this up in any talks about why there is a shortage of affordable rental housing in Ontario.
We are happy to contribute.