Who should live there?
Scenario 1
$ 650.00/month based on a 12 month lease – Or without lease
This basement Bachelor could attract young couples, students, or single adults.
The site is in proximity to main arteries and close to downtown. It would attract staff from nearby colleges and Universities, staff from neighboring hospitals and workers from the industrial area in proximity.
Scenario 2
Furnished bachelor, 45$ / day- all inclusive, =$1350.00/month
There is a need for temporary rental units in Ottawa, may it be from tourism (visiting foreign couple, single seeking comfortable accommodations without paying steep hotel prices) or could be a temporary “turn-around” residence for professionals separating from their spouses.
This option requires more management and may incur more advertising costs.
Interview:
Some facts about renting for rooming purposes taken from interview with Rooming house manager:
“Rooms are always rented @ $40.00/day. I rarely have any vacancies and I own 35 units. They are one-room units, about 200s.f. I put a bar fridge in there and a microwave oven. All the rooms have a bed, a small table, 2 chairs and a reading chair. I get my furniture at garage sales. There is a need for it in this city. I have waiting lists of people who want to rent my units. Demographically, single men (often newly divorced) are the most common tenants. They will stay for a few weeks or a few months…I even have some tenants who have lived in my units for several years, for some reason they prefer not to get a yearly lease and end up paying me weekly advances to reserve their spot. The average stay is 3 months and the shortest I have had is 3 days, but that is quite rare.
I rent units all over town. I spend about $200.00/month on advertising and my overall additional heating and hydro expenses never go over $90.00/ unit. Other than that, I pay a cleaning lady $20.00/week to clean the room This type of real estate is a gold mine, I’m planning to convert another house into 10 rooms.”
Cost review:
Furniture ammortissement: 
$10.00 /month
$10.00 /monthAdvertising: $200.00/month
$200.00/monthExpenses (heat/hydro/water) $ 90.00/month
$ 90.00/monthCleaning $ 80.00/month
$ 80.00/monthTotal cost: $380.00/month
$380.00/month Total monthly income $1200.00 /month
$1200.00 /monthNet income/ month $820.00
$820.00