Airbnb driving up rents in Canadian cities

[Anonymous]

I saw this on the news..



Airbnb has driven up rents in other Canadian cities too.



Airbnb has launched an ad campaign targeting homeowners struggling to pay their mortgages, but a local coalition is calling on the city to impose stricter rules on the burgeoning short-term rental market.



While the hot housing market in Toronto has led to a short supply of rental units and soaring rents, a recent report by Fairbnb claims short-term condo rentals are also a big part of the problem.



"I think it definitely has (contributed to the rental crisis)," said Fairbnb's Thorben Wieditz.



"The city of Toronto's vacancy rate is 1.3 per cent — in some of the condo buildings and condo districts it's actually below one per cent — and removing any units of the housing market will definitely decrease the supply and increase the demand, increase the prices, and make it more difficult for people to find a place to live."



The city is about to begin consultations on the best way to regulate home-sharing. Fairbnb will be asking for restrictions that protect the rental market while allowing for legitimate homeowners, like CityNews cameraman Adrian Golombek.



Golombek said he uses Airbnb because he still has control of his house, whereas if he had a problem with a regular renter, he would have a hard time evicting the person.



"I wouldn't do it if I didn't have to pay the bills," he said.



"It's a lot of work — it's a lot of people coming in and out and a lot of cleaning. But I would say in the summertime, you could make double what you would make if it was just a regular renter."



Faribnb supports a one host, one listing policy, which would prevent people from buying and renting multiple properties.



"There are about 12,000 listings in the city of Toronto, and one of the remarkable things we found ... is that 16 per cent of the hosts that rent out on Airbnb have multiple listings on the platform at any given moment," Wieditz said.



Those hosts in turn control about 40 per cent of Toronto's Airbnb listings.http://www.citynews.ca/2017/03/15/airbnb-driving-rent-toronto-group-says/">http://www.citynews.ca/2017/03/15/airbn ... roup-says/">http://www.citynews.ca/2017/03/15/airbnb-driving-rent-toronto-group-says/

[Anonymous]

City councils should pass bylaws restricting this.

[Angry White Male]

Our building has restricted this, using a clause in the Strata rules that prohibit running a business out of any residential unit.



Now, my trucking business is based at home, but that is just in address only, so for all intents and purposes nobody even knows I run my business at home, since I really don't.

[Anonymous]

Our building has restricted this, using a clause in the Strata rules that prohibit running a business out of any residential unit.



Now, my trucking business is based at home, but that is just in address only, so for all intents and purposes nobody even knows I run my business at home, since I really don't.

How would they enforce a rule like that?

[Angry White Male]

Good question...  First they'd need proof one is attempting to run Airbnb out of unit...  Maybe a Google search would bring up the unit address advertising the rental of unit?

[Anonymous]

Good question...  First they'd need proof one is attempting to run Airbnb out of unit...  Maybe a Google search would bring up the unit address advertising the rental of unit?

I thought they don't give show addresses in advertisements?

[Anonymous]

I have thought about renting out my condo for the two to three weeks every winter I am down South golfing.

[Angry White Male]

I've never used the service, so I'm not exactly sure.



I do know that we can rent out our units, but that's only with a longer term lease.  In fact, Strata rules in BC changed, and guarantee that an owner can rent out his unit.



Not sure if Strata can even change that status, but if they could, the original owners would be Grandfathered, I presume...



But as you state...  How could they really prove you were running a short-term rental?  They would have to prove that first, before they could even issue a fine...

[Angry White Male]

I have thought about renting out my condo for the two to three weeks every winter I am down South golfing.

For such a short term, is it even worth the risk?  Come back home to a dirty pig-sty?

[Anonymous]

I have thought about renting out my condo for the two to three weeks every winter I am down South golfing.

For such a short term, is it even worth the risk?  Come back home to a dirty pig-sty?

Well that's just it. It's not worth it.

[Angry White Male]

I need to start a new topic, but I am unable to...

[Anonymous]

I need to start a new topic, but I am unable to...

No?



Okay, give me a minute.

[Anonymous]

I remember watching on Global Calgary a house in my city that was destroyed by an Airbnb customer..



It was a beautiful home too.

[Angry White Male]

You never know who you're going to get.



I would never risk my personal home getting destroyed by bums, so I would never rent it out.

[Anonymous]

I remember watching on Global Calgary a house in my city that was destroyed by an Airbnb customer..



It was a beautiful home too.

You have to give your credit card information,  but that won't cover over one hundred grand in damages for example.