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Victoria Community Blog

Suite-ing A Home In Victoria Category: Renting

Often known as "in-law suites" or "granny suites", secondary suites have long been used to house family members in an independent space that's still close at hand. A simple one-bedroom suite can be comfortable and private accommodation for teenagers, university students, or seniors. Aside from benefiting family, secondary suites can provide additional income in the form of rentals, or be converted into a home office or business.

So how do you know if adding a suite to your property is the right move, and how do you get started?

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Renting To Your Kids Category: Renting

A photo of a finished laneway house next to several more under development in Vancouver. Photo by Matthew Blackett, feat. by Spacing Magazine on Flickr.

A couple of months ago I posted an entry addressing the benefits and complications of co-owning a home with a friend. While most of those tips also apply to family members entering co-ownership, they don't address the particular nuances of renting to family, especially when sharing the same home.

Renting to relatives can be a great way to help provide for them if you have the space and the funds. You know them personally and have an idea of how they'll take care of your property. But there are rules to be aware of when you take on the role of landlord, even if it's to your kids or a parent.

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