Ep 3. Legal And Lovely

In season 4, episode 3 of Income Property titled 'Legal And Lovely,' host and real estate investor Scott McGillivray helps homeowners transform their unfinished basements into income-generating rental suites. This episode features homeowners Naz and Angie, who recently purchased their dream family home in Toronto's up-and-coming Junction Triangle neighborhood. Despite their excitement, the couple's budget was stretched thin, and they were left with an unfinished and unusable basement.

Scott meets with Naz and Angie to determine their needs and goals for the space. They explain that their top priority is to create a legal apartment with a separate entrance that can generate rental income to offset their mortgage costs. Scott examines the basement, noting its unfinished state and lack of natural light. Despite these challenges, he sees potential in the space and gets to work developing a design plan that meets the homeowners' needs and maximizes their investment.

The initial design plan includes creating a one-bedroom apartment with a full bathroom, living room, and kitchen. Scott explains that in order to make the space legal and rentable, the apartment needs to meet certain building codes, including a separate entrance, sufficient ceiling height, and proper spacing for electrical outlets. Scott and his team begin by adding a new entrance to the side of the house, which leads directly into the basement apartment. They also raise the ceiling height and install new flooring, walls, and lighting to create a bright and inviting living space.

Next, Scott focuses on the kitchen, creating a functional space with plenty of storage and counter space. He installs new cabinetry, countertops, and a glass tile backsplash to give the area a modern look and feel. In addition, he adds a functional island that can be used for both cooking and dining. The bedroom is outfitted with a large closet and plenty of natural light, while the bathroom features a spacious shower and modern fixtures.

As the renovation progresses, Scott works closely with the homeowners to ensure that the final design meets their needs and budget. He advises them on cost-saving measures, such as using energy-efficient appliances and materials, and helps them choose stylish yet affordable finishes for the space. Scott also offers tips on how to attract potential tenants and market the apartment effectively.

Throughout the renovation process, Scott faces several challenges, including unexpected plumbing issues and delays with permits. However, with his expertise and dedication, he is able to overcome these obstacles and complete the project on time and within budget. In the end, Naz and Angie are thrilled with the results, and the new apartment will provide a valuable source of income for their family.

Overall, season 4, episode 3 of Income Property titled 'Legal And Lovely' showcases Scott McGillivray's expertise in transforming unfinished basements into functional and profitable living spaces. The episode offers valuable insights into the renovation process, including the importance of meeting building codes and investing in energy-efficient materials and appliances. Moreover, the show highlights the financial benefits of creating a legal rental suite, and the positive impact that such an investment can have on homeowners and tenants alike.