Really? May be it was just that host. It was nothing like this when I rented.
Yes volume …now everyone does it .Hopefully with these disastrous low prices all will go back to " normal" like longer terms .
Yes, it wasn’t our experience either. As I recall, the process took several emails and a phone call or two, and an exchange of papers. I believe, in one or two cases, we dealt directly with the owner but it was more common to deal with a property management firm.
My youngest brother has a traditional vacation rental property management firm in Vermont in a ski resort town. They still mostly operate this way. Yes, they get the booking requests from online, rather than via phone. But they still have documents to be signed (through docusign or something like that) and they take actual deposits, require ID, and that sort of thing. They still have a real office where guests have to go to get keys—though I imagine some owners are using keypads with combos these days. My brother manages hundreds of units and has used AirBnB for some of the units but he hates it because of the lack of support for the owners if damage happens. He will only list on AirBnB if the owner insists and he warns them about AirBnBs lack of support in claiming damages.
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I am very much against this business of people buying entire homes for the sole purpose of using them as STRs. Definitely makes it hard or impossible for people who live and work in an area to find affordable housing.
Nothing wrong with str in entire homes, IMO, as long as that home is actually the owner’s vacation home that they also use for family vacations, or maybe it’s a place they got because they have to work in the area some of the time. In other words, they would never rent it to a regular tenant long-term, since they would want to block off days for their own use.
Same for basement suites in the homowner’s residence, perhaps a granny flat or converted garage on the property where the host lives.
Those kind of places, in addition to hosting private rooms in one’s home, don’t cut into the locals’ long-term rental market, because they would never be rented out on a long-term lease anyway.
The private room in my full-time home that I list would never be rented out to anyone long-term- not only do I not want a roommate, I block off the rental calendar when I have friends and family come to visit. That room just sat empty most of the year before I started listing it for STR and it would sit empty again if I stopped.
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Toronto has a relatively high level of empty condos, driven in part by foreign investment. It makes sense to have STR’s because they may need to sell on short notice. LTR’s have iron clad laws in place that can affect a sale. An eviction can be long and expensive.
I don’t know what the City means by LTR. Traditionally it’s 12 months. However there is a huge market for shorter ones in the 4-8 month range for students, postgraduates, and apprentices. The risk is that they may extend. However I have done it on this basis and it worked out well.
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Exactly, they think they own the place. No thanks. The cabin I bought in 2017 that I have now as a str had been a full time rental for 30 years, and it showed. Holes drilled in the floors and walls because the tenant apparently had to have a f"ing TV there and did not give a s’It so told the installer to drill away. I do not want someone in my house who thinks they own the place thanks but no thanks.
RR
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I like airbnb because the wear and tear on my historic three family is less than LTR, and consequently my upkeep costs are significantly lower. it is quieter, and I like having more privacy. I always wanted to have a bnb, although I don’t really think of airbnb as the real thing which is the free standing building serving meals etc. I am a small host with two listings, one of which is my own apartment. I really enjoy meeting my guests and the overwhelming majority have been fine and lovely people. We have had some issues in the city with airbnb hosts renting a large house to alot of people every weekend and completely destroying the neighborhood peace and will likely lead to an owner occupied rule at some point in the future.
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Needs of the many? Excuse me? Sorry, no. No one else has any rights to the fruits of our labors. They can work hard and accomplish what they want.
We buy property and pay taxes on it. We even pay extra STR taxes. The government should have no say at all. Nothing good comes from giving away your rights.
Assuming these insane laws go into effect, they should grandfather people who bought BEFORE the regulations. That is only fair. Or … take a whole bunch of tax payer money and pay back the investors/homeowners. Why should they be punished for doing what was totally legal when they did it?
Property values will fall - what about people who bought during the rise and were not involved in airbnb - should they be compensated?
See how slippery a slope it is?
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Is this even constitutional?
Constitutional? US Constitution? Probably but there haven’t been any cases that have gone to the Supreme Court on this topic.
Since this post is about Canada, I know even less about it but I know Canada is even more tolerant of regulation than the US.
About 16 months ago, an officer told me that the situation in Toronto had become so bad that Metro Toronto’s finest were completely exasperated and threatening not to go to Airbnb calls. Nobody budgeted for this. Fyi
Perhaps in some areas this is the case…that people who live and work in an area find it hard to find affordable rentals. But it’s not true in our area. In our area too much housing stock is a problem. If you read my earlier post, I pointed out that it’s possible to buy a house for less than $50,000 here due to the large decrease in our population. (Screenshot of the post at the end of this post)
By purchasing and renovating single-family homes, and making them available as short term rentals, we are definitely helping the economy in our area. We have to pay business and occupational tax to the city, 6% hotel occupancy tax to the city, and 6% hotel tax to the state. In addition, the property taxes on rental property are double what they are on non-rental residential property. So altogether our standalone short term rentals are a definite benefit to our city and bring in significant additional revenue.
Perhaps this is not the case where you live, but not everywhere has the same economic situation and real estate market. Being against it, without considering that it might be beneficial in other places, is not looking at the entire picture.
Luckily for us, our state passed a law last year making it illegal for cities in our state that operate under municipal home rule to outlaw short term rentals or make any regulations restricting the owners use of their rental property. Our city has opted for municipal home rule so we are safe from being shut down.
Govt teacher/debbie downer here…I just have to point out that you are safe from being shut down for now. I also live in a state that has told cities they can’t outlaw STR (TX) and a city with no housing shortage so whole home STRs are safe…for now.
Laws can and will change if politicians think they need to change in order to be re-elected. So no one is ever totally safe if opinion turns against Airbnb. That’s why I was so interested in the recent Jersey City vote in which 69% of the voters went in favor of implementing restrictions. That’s why I’m interested in what Airbnb does to regulate party houses and scam hosts because voter opinion of my business matters.
There’s a recession coming eventually and a climate crisis so I advise making hay while the sun shines.
Après nous, le déluge.
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