Adding a basement suite to your home comes with several advantages. As discussed last month, ADUs are a great way to make additional income and add flexibility to your home. In this post, we will explore some of the crucial reasons why you should entrust this project to a construction company in Kelowna. Additionally, with the evolving regulations of short-term rentals (STRs) in B.C., we’ll show you how to switch your STR into a long-term rental unit.
Follow along below as we uncover why the right expertise is essential in a project like this!
Why Hire a Construction Company in Kelowna to Build a Basement Suite?
- Save Time & Money
Building or reconstructing your basement can be expensive and time-consuming. From purchasing the materials to renting the right equipment, there are a lot of unanticipated costs that homeowners often neglect. With a construction company, you can take advantage of their cheaper supplier network and equipment. Not to mention, your project will likely be completed in a fraction of the time. This is because a construction company will be able to allocate more hours for the construction of your basement suite.
- Ensure Your Compliance With Local Building Codes
Another reason to hire a construction company when renovating your basement is to ensure that the final product adheres to local building codes. Most construction projects require permits and inspections from the city. Experts often have detailed knowledge of local construction guidelines. This experience is critical in preventing mistakes and costly setbacks that could delay your project. Inspections happen at a variety of points throughout the construction process, so tasks must be done right at every step of the way. Failure to comply with the city’s building regulations could result in fines, inability to sell your property, and in extreme cases, teardown.
- Safety and Security
One of the most common issues that homeowners face when building their basement suite is flooding. If you want to ensure that your basement is flood-proof, hiring an experienced professional is advised. Working with a construction company can also help you with other common problems like poor ventilation, the presence of toxic materials, gas leaks, fire risks, and mould. Ease your mind by working with a reputable builder. This way, you won’t need to worry about the resulting safety and security of your suite.
How Can You Renovate Your STR to Become a Long-Term Accommodation?
In Kelowna, new STR regulations are being unrolled come spring. The new criteria for who can operate a STR will force numerous homeowners to shut down their rental units. On May 1st, 2024, the first of these requirements will begin to be enforced. If you are a homeowner looking for ways to repurpose your STR, a basement suite could be just the solution you’re searching for.
Long-term rental properties are in many cases more advantageous than short-term units. A long-term rental provides more stability, consistency, less risk, and a significant reduction in upkeep. They’re also in higher demand for longer periods during the year, they don’t need to be furnished, and it is much easier to fit within local bylaws. Not to mention, long-term rentals don’t require you to supply basic maintenance house supplies!
If you’re ready to transition from short-term to long-term, we have some tips to help you get started.
- Prepare Your Space for a Long-Term Tenant
Long-term rentals need to have a few more amenities than short-term units. While STRs may be able to get away with no in-suite washer and dryer, or minimal kitchen equipment, long-term tenants may not be so forgiving. Those looking for a place to call home will likely need all the appliances and fixtures that come with a fully functional living space. In addition, you’ll need to provide a separate entrance to the unit, property security features (working doors and locks), and safety equipment like carbon and smoke detectors. Thus, when you’re considering the design and offerings of your suite, you must cater to the needs of those who are looking for a more permanent living space. Hiring a construction company in Kelowna is a great way to begin the preparation of your space for a long-term tenant.
Contact us Today!
Building a basement suite is a great long-term investment that can help you flip your short-term rental unit into compliance. If you’d like to work with us at Arnold Construction company in Kelowna to get started on your project, contact us today. We’d be happy to help you build the perfect suite for your needs. Be sure to check out our social media page for current and past projects we’ve worked on.
We look forward to working with you!
