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
Very often, people purchase vacation rental properties because they want to have a vacation home for their family to enjoy. And, by turning the property into a rental investment, they can cover the costs of maintaining the house throughout the year. In many cases, if the property is in regular use, it means the owner … 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
Airbnb is a wonderful resource for landlords as they try to increase their profits. Long-term rentals can usually go for $900-1000/month while the same place can be sold for $100-120 per night for a short-term or vacation stay. The difference in earning potential between short-term and long-term rentals can be a major difference in Rental … 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
Let’s face it; self-managing a property in a vacation area is no picnic. It can be not only time-consuming but also quite stressful, if not downright daunting. You will have to find ways to attract guests, set a fair price, clean, renovate, and whatnot – the whole shebang. Tellingly, you need to hire a professional … Read more
The over saturated vacation rental property market is cut-throat. Due to its over saturation, you have to be sure your marketing plan is top notch so you can stand out amongst the crowd. You need to make sure your potential renters know why your property is better than the others. You want to be as … Read more