Short term rental owners are facing a challenge with newly imposed bylaws restricting the way they do business. Being a lucrative business, it would only make sense to find solutions that would ensure the owners of Airbnb short term rental properties to continue business. And they found it.
In this episode of Real Estate Chat, Robert Ede (http://www.unclebobexplains.com) and Johnder Perez (http://www.johnder.com) explore a Toronto Start article that revealed how short term Airbnb rental property owners are circumventing Toronto bylaws and continuing to offer their properties for rent.
And it's a simple strategy. You can read it here:
https://www.thestar.com/news/investig...
With so much invested in short term rental units, investor/owners are looking for ways to make sure they continue to earn the high rents paid by short term renters versus long term renters.
Will the city do anything about it?
Or will it continue to negatively impact the housing market by limiting long term supply and causing rents to rise?
Watch this episode and let us know what you think by joining in on the discussion.