bill 23

The demand for affordable housing along with government guidance is allowing for considerable opportunity for extended living spaces and income  generating opportunities for the savvy investor. 

Today I have Shannon Hammer, the President of Bark & Co giving us an overview of what are tiny homes and how his company's Suite Homes are different and why perhaps you may want to consider one as an income property.

Tiny Homes have been growing in popularity globally due to their relatively inexpensive cost and low impact on the environment.  

Depending on the size chosen, most will include all the amenities you expect in a larger home, while embracing a minimalist living philosophy. These small homes are no longer just for vacation properties. They have evolved as conventional options for in-law suites, younger generation suites, office and rental income apartments for long and short-term tenants.

Their popularity has exploded since Ontario introduced Bill 23 which allows for legal secondary dwellings on many existing properties. Suite homes are the perfect solution. They can be installed easily and fast; and even sold or moved if the need arises. 

Ema talks breifly of what this Act means, which includes:

"This legislation ‘cuts the red tape’ associated with additional residential units within new and existing houses, as well as accessory buildings. Now up to three residential units per lot will be permitted “as of right.” "