I want to rent out my basement. Are there any restrictions that may prevent me from renting this space?

The greatest impediment to renting a basement suite or even just a room is the types and size of the points of egress. A basement bedroom must have a window that is egress compliant at 3.75sqft. with no dimension less than 15”. You need to consider if the room is safe if the stairs were on fire could the renter escape from the home in another manner. Lloydminster has been lenient on rental suites as there is such a need for this type of accommodation. The problem is if there is ever a fire and a death as a result of an illegal suite you can be sure no one but you will face the consequences. My advice is to only rent units that are safe. Another problem I often see in renal suites is inadequate power supply in the panel and over use of the limited receptacles. A home that is properly wired for a rental suite will have a minimum of a 100 amp service and enough circuits to accommodate the needs of two families. I also recommend rental insurance.