Will you continue to Airbnb your Condo?

Will you continue to rent your condo as an #AIRBNB

It’s been a two-year fight. Landlords and the booking site have resisted every step of the way, and refused to voluntarily comply with municipal regs. For more than 20 months the issue has been before a tribunal, and now the decision’s been made. City, 1. Airbnb, 0.
All those units bought to rent out by the night (usually against condo board rules) are now illegal. Short-term rentals will be allowed only inside a landlord’s principal residence, and for no more than 180 nights s year. Homeowners can rent a max of three bedrooms, and not for more than 28 days at a time. No rentals will be allowed in basement or secondary suites. Landlords need to register and pay a fee plus a 4% accommodation (hotel) tax on revenues.
Of course by registering, landlords also join a database which is shared with the CRA – so anyone not declaring Airbnb (or VRBO) income is probably asking for an audit.  https://www.greaterfool.ca/2019/11/20/shared-stupidity/

No confusion there. 

The question is will you continue renting as Airbnb? 

Learn How to Get Closing Cost Credits.

Attention Home Buyers, Learn How to Get Closing Cost Credits.

Closing Costs Credit

Are you a first time home buyer?  Are you using 95% Financing  or low down payment Financing, i.e. 5.0% or 10.0%  down payment programs?

Do you need to preserve some of your savings and need options?

One way to do this is to get some or all of your closing costs covered as part of negotiating your purchase with closing cost credits.  This is not automatic, it is not guaranteed to happen if you write your offer with another real estate agent. 

Take advantage of our expertise in assisting home buyers navigate through the home buying process.  Get into the right house for the right price.

Those enrolled in my FREE Home Buyer Program can get up to $2,500.00 in closing costs

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Enroll NOW! in my FREE Home Buyer Program and lock down your closing cost credit. In order to qualify for this program please fill out the form below.  This information will not be shared with anyone.  We will contact you for an initial no obligation free consultation.

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*some conditions apply
*requires purchase of resale property on the Toronto MLS system with 2.5% CB commission
*Minimum Purchase Price $500,000. CDN $
*Toronto GTA
*Offer Expires March 31st 2020 *Not intended to solicit Buyers under contract