My first landlord was pretty strict as she laid down the ground rules as soon as I moved in, she told me no girls are allowed in the house. If it was a female tenant, she would say no males allowed. We kept things strictly tenant-landlord relationship. I considered the basement as an apartment under close supervision.
The second landlord was freaking awesome, I have the whole basement to myself (900 square feet) and she doesn't care if I have a party downstairs, as long as the property is respected. She just wears ear plugs if it becomes noisy, however, I try to be modest and not make a habit out of it. She never seem to mind when I have company over here and there, especially when I have the TV blaring. Pretty much, I considered the basement as a second home.
I'd highly recommend it if the landlord respects your personal space and never intrude. If something happens, you can knock on their door and they will rectify any problems you have in the basement (e.g., broken lights, broken pipe, broken faucet and so on). The snow path will always be cleared for you and the garbage is always taken out as we share their garbage. So in a way, it feels like I am still living with my parents but there are absolutely no rules (not like I have any back at home
).
Hope this helps.