why do city’s like Vancouver and Toronto think they should have to tell home owners if they can airBnB there properties or not? Vancouver even deciding to “tax” the homeowners with fees. What’s your thoughts on this? is this a needed intervention on the city’s behalf to curb a problem? Or is this simply a case of a greedy old meddling guard who can’t adapt to a new paradigm?
The reason is that AirBnB and VRBO operate illegally in most Canadian cities as the current zoning does NOT allow short term rentals. These hotel-like operators do not pay commercial hotel like property taxes, often quadruple to quintuple residential rates. As such, the fees charged are still far too low. Also, short term rental eat into long term rental supply.
As such, Toronto and Vancouver still do not go nearly far enough in shutting down, or charging fees, to VRBO or AirBnB operators.
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As such, Toronto and Vancouver still do not go nearly far enough in shutting down, or charging fees, to VRBO or AirBnB operators.
Sent from my iPad using myREINspace
Let’s not confuse the occasional guest ( in a car or in a house ) with systemic, professional, commercial for profit enterprises !!
Thomas Beyer, Asset Manager, Investor, Community Improver, Author, Father, Mentor www.prestprop.com