Ep 5. An Income Property Prescription

"Income Property" is a Canadian reality TV program that follows the journey of homeowners looking to create additional streams of income by renovating and renting out their properties. In the third season's fifth episode, titled "An Income Property Prescription," host Scott McGillivray helps a family turn their unfinished basement into a self-contained suite.

The episode begins with Scott meeting homeowners Kricket and Michael, who are looking to maximize the potential of their basement. The couple hopes to create a space that can be rented out for extra income, but they have no clue where to start. The unfinished basement has a lot of potential, but it's also cold, dark, and poorly insulated, which makes it an uninviting space for potential tenants.

Scott steps in to help the couple transform their basement into a habitable suite. He starts by assessing the space and identifying potential issues, such as moisture and insulation problems, which could affect the suite's comfort level. He then sets a budget and presents Kricket and Michael with a design that will work within it.

Kricket and Michael are delighted with Scott's ideas and move quickly to begin work on the new space. Scott helps them navigate the construction process, offering guidance on everything from ensuring proper ventilation to selecting the right flooring.

As the project progresses, Scott and the homeowners run into several unforeseen issues, including unexpected electrical and plumbing problems. Despite these challenges, Kricket and Michael persevere with Scott's help and complete the suite to a high standard.

Once the construction is finished, Scott helps the couple furnish the new space, offering tips on how to make it attractive to potential renters. He provides advice on everything from selecting paint colors to arranging furniture to make the suite feel homely.

With the project finally complete, Scott unveils the finished product to Kricket and Michael and shows them how it fulfills all their requirements. They are thrilled with the transformation of their basement and excited about the opportunity to generate an extra income stream. Scott reflects on the hard work that went into the project and the satisfaction of helping the homeowners achieve their goal.

Overall, "An Income Property Prescription" is an inspiring and informative episode that demonstrates how industrial basements can be transformed into livable spaces with the right guidance and expertise. Viewers looking for tips on how to add value to their properties and generate extra income will find plenty of useful advice in this episode.