While a growing number of property owners are making solid returns from short-term rentals, it seems their neighbours are concerned about the impact on the neighbourhood.
Services such as Airbnb have seen strong growth but a poll by Nanos Research for the Hotel Association of Canada shows that 26% of respondents would be concerned and 36% would be somewhat concerned if their neighbour’s home was regularly rented out short-term.
Around half said that regular short-term rentals of a nearby home would make them feel the neighbourhood is less safe for themselves and their children.
A similar share said that short-term rentals have a negative impact on their neighbourhood.
Asked how many nights per year would be considered acceptable for a short-term rental in their area, the largest share (24%) said zero.
Impact on home prices
As well as being worried about the short-term rentals themselves, especially the frequent change of residents, respondents are concerned that short-term rentals may affect their home values.
Forty-eight per cent of Canadians say the value of homes or condominiums in their neighbourhood would go down if there were short term rentals offered through online short-term rental platforms such as Airbnb, while 33% say the value would stay the same, 6% say it would go up, and 13% are unsure.