Thinking about renting your home via Airbnb? Think again!

enhanced-13222-1417721468-1 is an online marketplace that describes itself as a medium to help travellers find unique and local accommodations to stay in.  The site features over 190 cities that would provide travellers a more authentic experience in the city that they are venturing off to. Further, Airbnb accommodations boast accessibility, amenities and most importantly a price point that when compared with a standard hotel can be very desirable.

Despite its many benefits, not to mention the income earning potential that turning your home into a short term rental may bring, this setup poses many legal issues for those intending to rent their properties.

Here are some key points to consider before opening your home out to eager guests:

  1. Are you a tenant?

Be sure to obtain your landlords permission to sublet.   If you don’t,  you could face legal action from your landlord should you not have consent from your landlord to sublet the space.  You could find yourself in violation of the Residential Tenancies Act (2006).

  1. What about Insurance?

It would certainly be prudent to advise your insurer, which could lead to an increase in your premiums.  However, should you choose not to, they could deny you coverage when needed.  There is a higher risk to your property  when persons who are strangers to you are at your property when you are not present.

  1. Are you living in a Condominium?

It is highly likely that this type of rental will be in violation of the Rules of your Condominium Corporation.  Condominims tend to take a strict position on this as it is a matter of safety for the other residents.  Make sure you check the rules which would have been provided to you when you purchased your property, or have your lawyer review them for you to make sure you are not in violation.

  1. Are you a friendly Neighbour?

Opening your home out to travellers certainly poses a risk that your property may be used for a party or for some illegal activity.  Your neighbours may not take kindly to such nuisance.

  1. Compliance with local By-laws

Are you certain that your property adheres to health, safety and fire regulations?  If not, you may be opening yourself up to more trouble than it is worth.

For more information, please contact us.

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