AntonyGeorge

I have a house in Toronto that was constructed by my dad very long back. Until last year, we had been staying there. But when I constructed this new house, I shifted to this house with my parents. Now the old house is left unoccupied. As there is no point in leaving the house unoccupied, I would like to give it for rent. But before I rent it I would like to do some renovations. In the new house, I have installed fire alarm security systems along with intrusion alarms. Likewise in the old house also I wish to install a security system to prevent break-ins. What are the other factors to be considered while renting out a house? Presently there are 3 bedrooms in the house. I have a plan to construct one more room in the house. Is it wise to construct a room in the house that I’m planning to rent? Should we write an agreement? I prefer to rent out the house for 2 years.

Most of the furniture in my house is taken from ikea. It will last for long.