In 2018, a new law on taxing short-term rentals came into effect in British Columbia and has had serious impacts on businesses like Airbnb. This blog post is dedicated to answering the most commonly asked questions about paying taxes for these kinds of rental accommodation services – particularly ones located in BC. Understanding the Impact of Short-term … Read more
Many people across the world are intrigued by the idea of starting their own Airbnb business. After all, when it comes to side-hustles, renting out a part of your house to passing vacationers is probably among the easiest and simplest business there is. And with an international network, the potential for some serious income is … Read more
Airbnb continues to be a great platform to turn available space into a profitable business. For people with extra rooms in popular cities or vacation homeowners looking to monetize their property when it’s not in use, there is something for every kind of traveller. In the early days of Airbnb, the target market tended to … Read more
Everyone knows that you can use Airbnb to rent out your vacation property. That you can earn money from your primary residence while you’re out of town. Or even that you could make a side income by letting out an extra room in your home to budget-conscious travellers. The system has become so ubiquitous that … Read more
When you think of how Airbnb has turned an entire industry on its head, it’s pretty amazing. Just 11 years ago, it was two roommates in San Francisco looking to help pay their rent by offering short-term rentals of their air mattress. The company that was initially called Airbedandbreakfast.com, today has more than 4 million … Read more
Sometimes it seems like the Vancouver and Whistler real estate markets are so far-saturated that they won’t make suitable investments. For anyone just now considering their first rental property(s), there is a real fear that the moment may have passed. Even buyers looking to invest in vacation properties have had concerns that it’s not the … Read more
They’ve long been telling us that one-day smart devices would solve all of our problems. Articles going back 15 years were talking about refrigerators that would give you health tips and reorder your favourite foods before you ever run out. The future was going to be a technological marvel. Well, the future is now. While … Read more
If you operate a rental property in British Columbia, you will want to be regularly following the Provincial Government’s annual rental increase allowance rate. For 2020, the rental increase allowance is 2.6%. As a landlord, rental increases are what allows you to make proper capital expenditures to maintain your property in a state of good … Read more
Having a vacation home is not only a way for you to enjoy your favorite vacation spot on your own terms, but it is also an opportunity for you to make money when you’re not using the property. You will get an excellent return on your property, especially if you have chosen a popular vacation … Read more
Resort and short term rentals can be a great way to earn money, however, this isn’t a line of work that should be jumped into without proper preparation. Short term rental lease has different demands compared to standard property letting and these can be quite a shock to the system for those who have only dealt with standard property … Read more