Canadian Real Estate/Retrofit Apartment

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Question
I recently purchased a home that I will partially rent out.  The basement is separated into two apartments.  One apartment has an existing kitchen that has been there for years but the retrofit status is not guaranteed by the seller.  I was told by my realtor that the Grandfather Clause applies to this kitchen and I am able to rent out the apartment.  Will I legally be able to rent out the apartment and what liabilities am I assuming?  Also, the other apartment does not currently have a kitchen but does have the existing plumbing and electrical wiring for a kitchen.  I would like to install a kitchen and use it for myself.  Is this permissible by law?  Thank you for your help.

Answer
Hi Melanie,

I'm not sure where you're living? Anyway, with regards to basement apartments. A large majority of apartments are illegal and Seller's and Agents will not guarantee retrofit status.
Some of the issues surrounding apartments include ceiling height, fire doors, emergency exits, liability in case of fire, windows, Electrical, A letter from the fire Marshall's office, local bylaws regarding basement apartments etc...
Please check with the City or Township, talk to your Real Estate lawyer and Real Estate Agent about obtaining Retrofit Status.

Good luck,
Derek  

Canadian Real Estate

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Derek Hamilton

Expertise

Any questions relating to Residential Real Estate in the City of Toronto or Southern Ontario. How much is my home worth in todays market? What's involved in Buying Real Estate ? How much do you need for a down payment? What's involved in Buying a Condo? What's involved in Buying a Co-op? What do you need as a deposit? How to choose a good Real Estate Agent for your property? What should you do to prepare your home for the market? How much Commission should you expect to pay? What are the expenses when Buying or selling your property? Should you have your home Staged for the market?

Experience

Residential Real Estate Sales Representative in Toronto Ont,Canada for 25 years. Award winner for 20 straight years with Royal Lepage & Sutton Group. Prior experience was 10 years building new custom homes & Renovations in North Toronto. I have a total of 30 years experience in the Residential Real Estate field.

Organizations
I also subscribe to the Georgian Triangle Real Estate Board in Collingwood & the surrounding areas.

Education/Credentials
George Brown College "Carpentry", Continuing Education with the Toronto Real Estate Board. Member sinse 1985.

Awards and Honors
Platinum Award 2000-2008

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