What are the Benefits of Buying a Rental with a Basement Suite Built-In?

As a real estate investor, you are always looking for the best use of your investment money. With all of the different options available, it can be hard to know exactly what is the best choice. Basement suites are becoming more and more popular, both for renters and real estate investors.


What are the benefits of owning a rental with a basement suite? Is it a worthwhile investment? Let’s break down the factors that show that a basement suite in a rental property is indeed beneficial from an investment perspective.


More Rental Income for the Single Property


If you had the choice between more money or less money, which would you choose? More money, of course! A basement suite allows you to increase the amount of rent you can receive from a single property.


Pay Down Your Mortgage Faster


The sooner you pay down the debt on your rental property, the sooner you get to keep all of the income that is generated by that property. By having a rental suite in the basement, you will be able to pay back your mortgage faster. This leads to substantial savings. As an example, if you make one extra payment per quarter, you can save $65,000 and pay off your mortgage 11 years faster!


Higher Property Value


Properties with a rental unit or basement suite built-in typically have higher property values than other properties of the same size and style. The potential of creating ongoing rental income makes these homes extremely desirable on the housing market.


Better Value for your Tenants


Your relationship with your tenants is important. You are providing a valuable service to them but they are also an important part of your real estate investment. It is worth it to nurture that relationship.


With a basement suite, you are adding value to your tenants by providing an affordable home that could be exactly within their budget. Basement suites are often well designed and up-to-date, making them feel like a great value for the cost of the rent.


Another way to nurture that relationship is to offer monthly rent reporting for your tenants. Help your tenants raise their credit score overnight by using rent payments with CreditRentBoost.com. Ongoing rent reporting helps them grow their credit and will reduce the number of late payments you receive as a landlord.


Create More Cashflow for More Investments


The more cash flow you have from your rental properties, the more you can choose to invest in other properties or investments. Building wealth is a process that takes time and patience and rental units with basement suites can help move that process along a little faster.


Provide Monthly Rental Reporting for your Tenants


A basement suite in your rental property can definitely be beneficial for you as a real estate investor. Regardless of whether or not you have basement suites in your rentals, you can provide ongoing rent reporting to your tenants as an added benefit. Tenants are always attracted to the prospect of being able to raise their credit score overnight using rent payments. As a landlord, it will also reduce the number of late payments you receive.


CreditRentBoost.com provides monthly rental reporting services for landlords and tenants. Reach out today to see how you can help your tenants raise their credit score overnight by using rent payments. Use ongoing rental reporting from CreditRentBoost.com.



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