|This article relies on references to primary sources. (June 2012)|
|This article needs additional citations for verification. (June 2012)|
|Genre||Home improvement / Reality|
|Developed by||RTR Media|
|Presented by||Scott McGillivray|
|Country of origin||Canada|
|No. of seasons||7|
|No. of episodes||91|
Season 1&2 - Kit Redmond and Debbie Travis and Hans Rosenstein.
Seasons 3 - Kit Redmond and Grazyna Krupa.
Season 4-7 - Kit Redmond and Scott McGillivray and Jenna Keane
|Running time||60 minutes|
|Original run||January 1, 2009 – Present|
Income Property is a home-improvement program in which host Scott McGillivray introduces a Toronto-area couple to various houses then designs and executes a renovation of the selected property to prepare to rent a part of it and allow the couple to live in the other part. The program airs on HGTV.
The series premiered on HGTV on January 1, 2009. The program was a half-hour long until 2013, when it became an hour-long show.
About the show
Income Property is a series about first time homeowners and their goal to put an income suite in their home to help out with the mortgage payments and increase the value of their home. Host Scott McGillivray owns over 20 income-generating homes that he has converted and renovated himself.
In each episode, McGillivray offers design options, prepares plans for a conversion and manages the construction of a rental suite. The key is organization and planning. McGillivray communicates confidence and skill to help lead new homeowners through the ups and downs of renovating their income suite.
The show follows new homeowners each week by assisting with the renovation of a rental suite within the home. Usually the basement level of the home, but has done an upper unit from time to time.
McGillivray meets with the homeowners to see the space in its current form. Usually, the space is dull, boring and in much need of repair. The space usually looks intimidating to tackle alone without a contractor. McGillivray then provides two options for a possible redevelopment. One option is generally grander in scope and cost, giving the homeowner and option to spend more or less of their savings.
Each potential option has an estimated return on investment by way of a monthly rent received. McGillivray shares the homeowners' mortgage payment and subtracts the estimated market rents to provide a "lower" mortgage payment.
Once the homeowners decide on which option they prefer, the Income Property team goes to work to demolish and rebuild. The homeowners are usually involved in the renovation but then are kept out of the space during the final stages of completion to provide some element of surprise.
McGillivray generally gets an opinion of value from a real estate appraiser or real estate agent who then provides a generously high home value which provides some shock to the homeowners.
During the reveal of the newly redeveloped space, McGillivray shows the staged rental suite and provides the new value of the home and the real estate professional's value of estimated market rents. The closing of the show has McGillivray verbally discussing the features of the suite, much like a newspaper ad would do. Then the show provides an inter-title of the result after filming showing the amount of rent the homeowners actually got once the unit hit the market.
In some episodes, the homeowners did not rent out for various reasons.