Offer your thoughts or opinion on the input financial query or topic using your financial background.

What are the advantages and disadvantages of leasing out a property or part of a property (such as a basement apartment)?
Complexity has mentioned some good points. I'd also like to add on the downsides:  It's not that easy to get rid of a tenant!  Imagine if your tenant passed your background check with flying colors but then turned out to be the tenant from hell...  How would you resolve the situation?  If the thought of that kind of situation stresses you (it would stress me!), I would consider carefully whether you really want to be a landlord.