Renting Your Home on Airbnb Canadian-style

If you haven’t heard of Airbnb, it is an online community marketplace that connects people looking to rent their homes with people who are looking for accommodations.

Brian Chesky founded the home-sharing website Airbnb after renting out airbeds in his San Francisco loft apartment.

For many Canadians, Airbnb is becoming a decent source of income, with some charging upwards of $100 a night to rent out their spare room, that would otherwise lie dormant. Entire homes can go for much, much more, with this home near Jericho beach in Vancouver going for $1000 per night.

But why are Canadians actually listing their properties on Airbnb? And what are some of the reasons Airbnb is so popular in the Canadian market?

For a quick overview of Renting your Home on Airbnb, check out the infographic below.

Renting Your Home on Airbnb

Conclusion

Thanks to the fast-growing sharing economy, any Canadian can make money renting out his or home.

Still, there are downsides of becoming your own small business, including those documented Airbnb rental horror stories we hear about on the news.

If you’re renting a room or a home on Airbnb, it’s wise to talk to your home insurance provider, and consider specific Airbnb home insurance. Whether this short term home rental market continues to grow in Canada remains to be seen.

Are you an Airbnb host? Have you had any bad experiences? Good experiences?

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