Basement suite in Ottawa

Derek13533

New Forum Member
REIN Member
Dec 7, 2017
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#1
Looking for opinions! When converting a basement into a secondary suite, which option is better? A three bedroom unit, with smaller bedrooms and living area (ex. no space for a dining room table) or a two bedroom unit with larger bedrooms and a larger living area. Is there much of a market for three bedroom basement suites, or is the third bedroom unnecessary? Thanks!
 
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Alvaro Sanchez

Ottawa-Gatineau Investor
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Jun 5, 2009
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#2
You would probably get a better quality tenants on a 2BR vs 3BR (for basement setup). Also note that if unit does not have a separate meters for utilities a 3BR unit will cost more. The more people in the unit translates more cost to maintain and increase wear and tear (Noise, parking, etc) with marginal increase in rent.
 

Matt Crowley

Senior Forum Member
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Dec 14, 2013
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Edmonton
#3
Almost always 2 bedroom. Even if you do a 3 bedroom, advertise it as 2 bedroom + den. There is a market psychology that 3 bedrooms is just too much room / too much cleaning / not attractive for couples. Not sure why, but 3 bedrooms is a thing of the past in any kind of apartment setup.
 

Willyboy

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Aug 19, 2016
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#4
Almost always 2 bedroom. Even if you do a 3 bedroom, advertise it as 2 bedroom + den. There is a market psychology that 3 bedrooms is just too much room / too much cleaning / not attractive for couples. Not sure why, but 3 bedrooms is a thing of the past in any kind of apartment setup.
Even on the main floor? You mean it's better to have 2 bedrooms down and 2 up or 2 down and 3 up?
 

Matt Crowley

Senior Forum Member
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Dec 14, 2013
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Edmonton
#5
Main floor is a bit different in suited homes only. For TH, 3 bedrooms is still relatively common but seeing more 2BD units now.

Basement suites, new apartments, everything is going 2 bedroom now. For basement suites think of your tenant as typically below apartment-renter tenant. That's the target market.
 
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