Just wondering if anyone had any experience on this. I have a property whose tenants are defaulting soon and I'm thinking about converting it.
Is it worthwhile running an incall?
- Thread starter nightswhisper
- Start date
Absolutely. Doesn't sound legal to me. However, if you airBNB you can't control who rents or what they do with it. Downside, an airBNB is a lot more work than a rental. Upside, potential to make more money is there.
Although I have never rented to an SP (or at least not that I was aware of); I suspect it would simply be a series of short term rentals. At one point I owned a couple of condos close to a large university and and decided to rent them out to visiting professors as fully furnished, all inclusive short term rentals. The higher rents were great, the quality of tenants was great, but the constant turnover of tenants was a pain in the arse. In my opinion having long term tenants that simply pay each month is the best way to go. Heck, given the rental market fundamentals in Vancouver, if you can't find quality long term tenants - you're doing something wrong.
I knew a lady who used to do it and it was a bit tricky. It would put her in a very risky situation legally...
