Ep 1. University Fee Fixer

Income Property

Season 5, Episode 1: University Fee Fixer

In the exciting premiere of Season 5 of Income Property, host Scott McGillivray is back to help homeowners turn their unused spaces into lucrative rental units. In this episode titled "University Fee Fixer," Scott assists a couple looking to generate extra income to help pay for their daughter's university fees.

The episode begins with Scott meeting Chris and Stephanie, a hardworking couple from Toronto, Canada. Their eldest daughter, Jenna, is about to embark on her college journey, and they are worried about the financial burden it will place on their family. With skyrocketing university fees, they need to find a way to generate additional income.

Scott's solution? Transforming their cramped, cluttered basement into a beautiful, self-contained apartment that can be rented out to students attending the nearby university. This way, Chris and Stephanie can generate supplemental income to help alleviate the stress of Jenna's university expenses.

However, there's a catch – the basement is currently a disorganized storage space filled with boxes, old furniture, and outdated decor. Scott understands the challenges but is determined to create a desirable living space that will attract tenants. The transformation promises to be nothing short of incredible.

Scott brings in his team of experts, including designer Sabrina Smelko and contractor Trevor Drury, to help him execute his vision. Together, they work tirelessly to renovate the basement from scratch and make it a functional and stylish living environment. The team carefully plans the layout, ensuring they maximize the available space while creating separate areas for sleeping, dining, and relaxing.

With Scott's guidance, the team tackles various renovation tasks, such as demolishing walls, installing new flooring, and updating plumbing and electrical systems. They also focus on making the apartment energy-efficient, utilizing green technology to reduce utility costs for potential tenants. From insulation to energy-efficient appliances, every detail is meticulously considered.

While working on the practical aspects of the renovation, Sabrina takes charge of the interior design. She selects modern and durable furniture and decor that can withstand the demands of student living. The color scheme is tastefully chosen to create a warm and inviting atmosphere, and she incorporates plenty of storage solutions to keep the space organized and clutter-free.

As the renovation progresses, Scott ensures that Chris and Stephanie are involved in the decision-making process. He educates them on rental property management, explaining important factors like tenant screening, lease agreements, and maintenance responsibilities. Scott believes in empowering homeowners to take control of their income property, and Chris and Stephanie are receptive to the knowledge he imparts.

Finally, the renovation is complete, and the finished apartment is nothing short of breathtaking. Scott invites Chris, Stephanie, and Jenna to view the transformed space, and they are amazed by the results. The basement has been completely transformed into a bright and modern living area that feels like a home away from home. Chris and Stephanie can envision how it will attract tenants who are willing to pay top dollar for such a remarkable place.

The episode concludes with Scott revealing the potential rental income that Chris and Stephanie can expect to generate from their new income property. Overwhelmed with happiness and relief, they realize that their daughter's university fees will no longer be a financial burden. The university fee fixer project has been an utmost success, providing them with a sustainable solution to their financial worries.

Tune in to the exciting Season 5 premiere of Income Property, "University Fee Fixer," to witness Scott's expertise in action, his transformative renovation skills, and the heartwarming story of a family finding financial freedom through rental property investment.