News   Apr 26, 2024
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News   Apr 26, 2024
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Suburban house split up into 18 bedrooms

I want to rent out a basement apartment to help pay off my mortgage.

No... It is foreboden. You cannot do that since you are required to pay it off using your own salary, even though you do have the space available.​

But I don't have any kids yet.

I don't care...​

Alright, I'll just rent it out to my 34th cousin.

As long as it is a relative.​
 
Two questions I have are:
What is considered to be the official "affordable" rental rate for housing in Toronto? How much "house" do you get for that rate?

According to Ontario works, $335 is the maximum allowance for single person shelter. For that amount, you should be able to get a large basement room, but there would be little or no natural light. You can also get a smaller room in an apartment building or the upper floor of a house, parking would be extra though. For less than $500, you should be able to get a very nice master bedroom in an apartment unit. Note all these are likely illegal. One major problem is that people with young children would have a very hard time to find shared accommodations.
 

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