23) Short-Term Rentals
Airbnb & Vrbo
Renting your unit on a short-term rental website can be very lucrative but here are a few things you need to know:
You must be licensed by the City of Calgary
Furnishings can cost $10-$20k
Short-term rentals can be restricted in your condo bylaws at any time.
Condo buildings typically restrict "commercial operations"
You will not qualify for a GST rebate
When selling, you may have to pay 5% GST on the sale price.
Government continues to restrict short-term rentals, so consult with a professional to fully understand the implications for your investment.
Airbnb Operator
I have a relationship with one of the top Calgary Airbnb Operators with over 1,500 5* Reviews on Airbnb.
