Airbnb and STR's

Airbnb Furnished Rental

Airbnb and sort-term rentals (STR's) are popular and can be profitable, but buyer's should be kept up to date on current municipal and provincial regulations. 

Before buying a property, make sure to research the rules and regulations both for your principle residence, and if it's a condominium, if it is allowed per the condo rules. 

In Toronto, STR's are parts of a dwelling unit that are rented for less than 28 days, and must have a City issued registration number. 

Currently there is a City has a one-time licence application fee of several thousand dollars (in Toronto the cost is $5,321.85 and an ongoing fee of a $1.06 for every short term rental night booked through the company).   

Make sure to understand the rules before operating an STR business and make sure to have a good accountant on board to help with your business.