AirBNB in Montreal - Plateau Region - Thinking of becoming a host

Hello fellow AirBnBers,

I’ve been lurking for a while just learning about hosting, issues etc.

I have an opportunity to become a host in Montreal. It’s in a newly built condo in the Plateau region (near Metro Laurier). I’ve done research using AirDNA to do some revenue projection, reviewed best practices, etc. I’m hoping for around a 57% occupancy rate (1 bedroom plus sofa bed in living area). I’m at the point now where I need to decide whether to do this or not. I’m excited about becoming a host but nervous at the same time.

I guess I’m posting to get some feedback from other hosts in the area. How are you feeling? How’s your experience in this region? Would love any messages. Thank you in advance.

Rishi.

First question- does your management group allow STR? If they do now but change the rules later - what will you do?
Do you owner or rent?

If you aren’t the owner, don’t do this without written permission of the landlord.

We’re owners and they allow STR. It’s a small condo - 12 units total. The by-laws don’t speak about short term rentals and the building management says they’re fine.

We’ll be the owner and there’s nothing against this in the by-laws.

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And what will bring people to your accommodation?

Do you mean why this particular accommodation? The condo itself is steps away from the metro. It’s located in a neighborhood that has fabulous restaurants, cafes, pubs, and entertainment close by. We’re thinking of having a couple of bikes in the condo locker so guests can bike around (though we need to figure out liability, etc.) Having said this, this condo isn’t in a historic building or built by some fancy architect. It’s a cozy condo, comfortable and convenient.

And if they bring this in?

There are a few things to consider.
We are in Ottawa and come to Montreal often. Your location is superb.
Bear in mind that:

With regulation coming everywhere, we could all be out of biz very suddenly.
You cannot rely on the income.
In the first while after you list with Air you will get the “new listing boost”, They will give you better placement and visibility for a short time. The honeymoon will not last!
Air is only asgood as its technology. We had a very successful summer last year but this summer their site has gone all buggy and people are unable to see our listing. The help people at Air insist all is well. But we have no bookings after July 2nd.
We are glad we own the house and do not rely on Air.
When it is good it is GREAT. When it is bad its terrible.

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