The City of Saskatoon's zoning bylaw restricts which lots allow a legal secondary suite or duplex conversion, so confirming the zoning and permit history on a specific property matters before assuming you can rent a second unit. A suite built without a permit can complicate financing and insurance even if it has been rented for years.
On the financing side, CMHC and the other mortgage insurers treat owner-occupied two-family properties differently than a pure rental purchase, and a lender applies the same debt service ratios, roughly 39 percent of gross income on housing costs, whether or not a portion of the rent counts toward qualifying, so run the numbers with a mortgage broker before assuming the rent covers the difference.
Being a landlord also means tenant screening, maintenance calls and the Residential Tenancies Act governing notice periods, which is a real time commitment most single-family buyers never take on. Get your hand-reviewed valuation from Joel Dyck.