Scott McGillivray Shares His Top 5 Tips to Identify An Income Property

Updated: Feb. 26, 2024

The host of Income Property on At Home with Family Handyman is back with more home advice!

Looking to make a profit from extra space in your home? Scott McGillivray, renovator and host of Income Property on At Home with Family Handyman, shares his tips on what to consider when you’re thinking about it.

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Home for Rent
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Check Your Local By-Laws

What are the legalities surrounding rental properties in the area? Can you legally create multiple units in a home?  

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Woman looking for property to rent via real estate online platform on smartphone
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Do the Math!

Look at comparable rentals in the area and make sure your investment will generate a desired/profitable return.   

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A blue house with a wooden front door.
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Look for Natural Divisibility in a Home

Are there separate entrances for separate levels? Is there access to a basement? This makes it easier to begin the conversion to multiple units. 

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husband and wife with baby recieving an estimate from a man on how much it'll cost to make home into an income property
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Get Multiple Estimates

Do your homework to have the work done legally and create a rental space you can be proud of.

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Close-up of a architect discussing building blueprints with female colleague in office
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Plan it Out

Plan a design that adds to the overall value of the home.

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Where Can I Learn More?

For more of Scott McGillivray’s helpful hints and tips, tune in to Income Property on At Home with Family Handyman, Mondays through Saturdays starting at 7 p.m. ET. 

The channel is currently available on Samsung TV Plus, XUMO, The Roku Channel, LG Channels, Plex, fuboTV, and Sling Freestream. You can also stream At Home with Family Handyman for free through the Family Handyman app on iOS, Apple TV, Android, AndroidTV, FireTV and Roku devices.