As you may know, some landlords are venturing into short-term rentals these days. Several Airbnbs are popping up all over the country because people find them cheaper. After all, most people spend their vacations touring around cities, and staying at hotels only to sleep and bathe may not be worth it.

One day you might get to advertise a short-term rental. But do you know the first thing about them? If not, you have stumbled on the right page. Before you put it on the market, here are some things you need to keep in mind about short-term rental properties in Canada. But you have to remember that each province has different legislative laws.

In Toronto, residents who wish to rent out a portion of their property must register and pay a 50-dollar fee. The duration of the guests’ stay should be less than 28 days. Toronto regulations also include a 4% tax on the rental payment. Ottawa released new rules about short-term rentals last April. People who want to rent out their houses must acquire a permit and pay $110 for two years. The rental duration should only be less than 30 days. See what I mean about the different policies?

Tenants

Guests in short-term rentals in Ontario may be considered tenants. Renters who will stay for a few days may not have the same legal protection as long-term tenants. To do that, the guests can sign a lease form. It can come in handy if problems and issues occur.

As with other provinces, landlords cannot evict existing long-term tenants if he wishes to convert the property. They have to consider that they signed a legal document stating the duration of the tenant’s lease. Short-term rentals are still considered residences in Ontario.

Tenants who rent a property cannot take in renters themselves without the owner’s permission. For instance, the tenant has no use for the extra room in their rental and wants to earn a small income. They might think of renting it out for short-term visits. Because this idea presents risks, the landlord should decide because it is their investment.

Achieving success in short-term rentals

We have to remember that not all properties are ideal for short-term rentals. We have to think about the different factors that make them click. For example, the property’s location is nowhere near a tourist destination or in a small town.

But if the area welcomes tourists all year round, then here are some things the landlords can do:

A. Fees

As I’ve said before, landlords must pay the necessary fees and taxes. It will depend on the location, of course. They should consult with their local tax assessors to know what they should pay for and how they should pay for them.

B. Lease Agreements

I know the guests will only stay for a short period, but rental agreements are essential. It should contain specifics applicable to short-term rentals. It will help protect the owner’s property from damages.

C. Photos

Posting attractive and vibrant photos can go a long way in catching attention. The landlord can hire a professional photographer because they know how to capture the best images for the rental. They will be able to use these photos for a very long time, so it is a good investment.

D. Listings

Speaking of quality investments, agents like yourself can put money into a good website for your property listings. Padleads will let you post all your listings and have them syndicated to other networks online. And for a very affordable price too.

Once the listing is out there, you should remember to review it at least once a month. There might be things that you should revise to make it more appealing to your customers.

E. Customer Satisfaction

One of the best ways to market a property is through word of mouth and personal experiences. If the landlord is consistent in maintaining a top-notch satisfaction rate, the reviews and feedback from past renters will speak for themselves. They should ensure quality service at all times.

Short-term rentals are becoming more common and practical for travelers. Maybe it’s time some landlords get into the idea of them. Their properties can become someone’s home away from home.