Make sure ladies and gents, if your planning on turning an existing property's basement into a rental, that you follow these guidlines: 1)Follow the local Building Codes and Zoning Regulations. 2) Get a permit. Some things you should be aware of are: a)The basement apartment needs to have a seperate entrance. b)The windows need to be large enough to allow a minimum of 8% light per room, and 4% ventilation. The windows need to allow means of egress. c) Smoke and Carbon Monoxide Detectors are required. d) Seperate services for electricity, plumbing and heating are required. Above all esle: If you can't do this profitably, don't do it at all!!!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125