With a shortage of affordable housing, some homeowners are trying to earn extra money by putting in basement apartments.
“This was our dream for our future when we retire,” said Cristabell Carletti of Mississauga, who hired a contractor to help build a basement apartment in her home. “We wanted to have it finished so we can rent it out for a second income.”
Carletti and her husband Gino Carletti hired the contractor last spring to renovate their basement, put in a kitchen and add a separate entrance.
The renovation was supposed to be done within two months, but they say it’s been dragging on for more than a year now.
The Carlettis told CTV News Toronto they paid a company $35,000 to start the job. The company then asked for an additional $50,000 to continue work in September, but after payment was made, the work came to a standstill.
They say the first company they hired gutted the lower half of their home, but after the work stopped, they were forced to hire other contractors to complete it.
“This was a finished basement - completely finished - but they pretty much took it apart and destroyed it,” said Gino.
The company that left the Carlettis with a gutted basement was Basilica Construction of Vaughan, Ont., whom the couple hired after seeing an ad for their work on Instagram.
The Carlettis say they have since been in contact with other people on social media who also hired the company and said they were left with unfinished projects.
Calls and emails to the company made by CTV News were not returned.
Searching their name online also resulted in a Google listing that says Basilica Construction is now “permanently closed.”
When the Carlettis hired Basilica Construction, they say they paid the contractor the $85,000 through a loan with Financeit.
Despite the work on their basement not being completed, the couple are still expected to pay the loan back.
“We signed a loan, but all of the money was given to [Basilica Construction], never to us. Obviously, they trusted them with the money, but they didn’t trust us to handle that money,” said Gino.
In a statement to CTV News, a spokesperson for Financeit said, “We are dedicated to delivering the highest standards of service, integrity, and transparency for our customers. We would like to clarify that Financeit operates solely as the lender and is not directly involved in the products or services offered by any merchant partner.”
“As of now, Basilica Construction and any affiliated businesses are no longer active merchant partners of Financeit... Financeit is actively investigating this matter and is committed to working with each affected borrower on an individual basis to ensure fair and timely resolutions.”
The Carlettis are upset they’re still expected to pay back the loan, when no more work is being done.
“I feel sad and disappointed because I don’t know how we are going to finish this,” said Cristabell.
“We are paying for something we didn’t get,” added Gino.
The Carlettis say they’re concerned they’ll have to pay a second time to finish their basement apartment, something they now can’t afford to do.
