Thanks for the video! I am actually planning to build a laneway house and this helped me a lot! Just a tip for the next video: some parts of the video I couldn’t actually pay attention since it’s funny to watch Zach holding the microphone for you guys with empty hands😅 so I had to watch again
Great property but when it comes to having it as rental property as per your example, realistically the cashflow can be negative if including utilities, repair/emergency cost, and vacancy.
Hey @MJBG! I never include utilities in the rent, the tenant pays for it in their own name. Or you could charge an extra $400/mo or so to cover utilities. A good landlord shouldn't have any vacancies, a lot of our clients (myself included) have had properties for over 10 years and not one month was ever vacant so its about managing it properly. Repairs is part of the cost of home ownership, no different than owning a car - but the financial gain you get from rentals will far outweigh the cost of repairs! 😉
No, the foundation was poured with the intention of building this two-story building. Normal garages only have a concrete pad, which is not sufficient to build a laneway house. The foundation would need to go deep underground like a normal house foundation
I don't think so, I haven't seen or heard of any suites structured like that. Parking will be an issue and it also depends on where your property is and the zoning the city will allow. You can see the requirements and if your property is eligible for a backyard suite here: www.calgary.ca/development/home-building/new-backyard-suite.html
Hi im just wondering about how you mentioned that the suite requires a designated parking either inside or outside. When you said outside, does that mean the renter can park in the backyard laneway road or they can park in the front of the main house on the main road? I want to build one and rent one but i want to keep the garage part to myself because my main house has no garage. I want to rent the garage suite the same way you rent a basement. Thank you
Hi @gbreezie! At the time of making the video, the City's rule was the designated parking needed to be a single garage or beside the garage outside. You cannot park it in the alley or on the street in the front of the main home. I would check the city's website and when you make an application to build one, they will advise you what the rule is at that time. The city changes the rules and requirements consistently so its always best to read their website or call to get the most current info! This website should give you a good start - www.calgary.ca/development/home-building/new-backyard-suite.html - Good luck my friend!
Not yet ..... lol. The city is rezoning the innercity so give it a few years. Plus the money you spend on a laneway home, its better off to buy another rental! Contact us 😉 hello@liveinnercity.com
Hard to have it all! When comparing this to other rental properties or condos with similar rents, I think most people would prefer to have a standalone unit with no neighbours so it depends on what you value more
Could you see a laneway house as a good short term rental like Airbnb? What are your thoughts on these backyard suites?
This an amazing offer indeed
Glad you enjoyed it!
Thanks for the video! I am actually planning to build a laneway house and this helped me a lot!
Just a tip for the next video: some parts of the video I couldn’t actually pay attention since it’s funny to watch Zach holding the microphone for you guys with empty hands😅 so I had to watch again
Hahha thanks for the tips Daniel! Glad this video helped you and best of luck with your build buddy! 😆
Great property but when it comes to having it as rental property as per your example, realistically the cashflow can be negative if including utilities, repair/emergency cost, and vacancy.
Hey @MJBG! I never include utilities in the rent, the tenant pays for it in their own name. Or you could charge an extra $400/mo or so to cover utilities. A good landlord shouldn't have any vacancies, a lot of our clients (myself included) have had properties for over 10 years and not one month was ever vacant so its about managing it properly. Repairs is part of the cost of home ownership, no different than owning a car - but the financial gain you get from rentals will far outweigh the cost of repairs! 😉
Nice looking place. To clarify, was it built on top of an existing building/foundation? If not, I expect the cost would be substantially more?
No, the foundation was poured with the intention of building this two-story building. Normal garages only have a concrete pad, which is not sufficient to build a laneway house. The foundation would need to go deep underground like a normal house foundation
@@LiveInnerCity If there is deep foundation would be good to build a basement too?
I have a question, I have a big yard no garage no nothing on it, can I do 2 backyard suites? 1st and 2nd floor?
I don't think so, I haven't seen or heard of any suites structured like that. Parking will be an issue and it also depends on where your property is and the zoning the city will allow. You can see the requirements and if your property is eligible for a backyard suite here: www.calgary.ca/development/home-building/new-backyard-suite.html
Hi im just wondering about how you mentioned that the suite requires a designated parking either inside or outside. When you said outside, does that mean the renter can park in the backyard laneway road or they can park in the front of the main house on the main road? I want to build one and rent one but i want to keep the garage part to myself because my main house has no garage. I want to rent the garage suite the same way you rent a basement. Thank you
Hi @gbreezie! At the time of making the video, the City's rule was the designated parking needed to be a single garage or beside the garage outside. You cannot park it in the alley or on the street in the front of the main home. I would check the city's website and when you make an application to build one, they will advise you what the rule is at that time. The city changes the rules and requirements consistently so its always best to read their website or call to get the most current info! This website should give you a good start - www.calgary.ca/development/home-building/new-backyard-suite.html - Good luck my friend!
@@LiveInnerCity Thank you so much! You're very helpful.
You're welcome! Just message us if you have questions about real estate 😄@@OneTimesZero
How much square feet is the laneway house?
Around 800 SF
I like it
What area is this?
This is in Banff Trail in the NW by the University of Calgary
Unfortunately cant have a secondary suite (basement) + laneway home!
Not yet ..... lol. The city is rezoning the innercity so give it a few years. Plus the money you spend on a laneway home, its better off to buy another rental! Contact us 😉 hello@liveinnercity.com
But no view
Hard to have it all! When comparing this to other rental properties or condos with similar rents, I think most people would prefer to have a standalone unit with no neighbours so it depends on what you value more
It’s a laneway home my guy