Dan Welyk Realtor®  Since 1999

There Is No Substitute for Experience.

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Your Secondary Suite is Ready

Testing the Market

Now that your Calgary secondary suite is ready to rent, how do you figure out the rent? Test the rental market.

  • Check Your Competition - Do some searching to see what kind of rents people are charging in your area.
  • Run a Dummy Ad - Not sure how much to charge? Run a dummy ad at a rental rate you want. If you get loads of inquiries, you can probably ask more. Not getting any inquiries, you're asking too much. Just respond telling people it's rented and/or don't respond at all. 

Finding a Tenant

You can be selective and finding the right tenant might be the difference between success and disaster. Here are a few tips:

  • Lower Rental Rate than Competition - You want to have a good tenant and the more people you can interview, the better chance you have at finding a good tenant. Don't be greedy, a lower rental rate may also mean you get a tenant as opposed to sitting vacant.
  • Be Picky - Think about the tenant and what kind of lifestyle they live. You may not want a party animal living in your suite.
  • Basement SuitePets - Yes, they can cause damage but tenants are typically also willing to pay more to have their pets live with them.

 Do it Right

Having a suite in your basement or even part of your garage is a great way to get extra income to help with your mortgage payments.  You do need to be very careful to ensure you do things right and follow the city of Calgary's guidlines.  They are there to protect you as a home owner as well as the tenant.


Guide to Secondary Suites in Calgary

Re-Zoning for a Basement Suite

Development Permit for Secondary Suites

The Building Permit


 

 

 

 


help with basement suites


 

MLS® Listing Search

Buying A Home

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Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
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