Day: October 2, 2021

8 Best AirDNA alternatives for 2024 (Free and Paid)

Post author By hannah mandapat
Post date October 2, 2021

8 Best AirDNA alternatives for 2023 (Free and Paid): Did you know that there are AirDNA alternatives in the market? Check out the indirect competitors of AirDNA and learn how you can innovate!

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Did you know that there are AirDNA alternatives in the market? Check out the indirect competitors of AirDNA and learn how you can innovate!

Last updated May 23, 2024

Fueled by the rise of Airbnb, AirDNA has become known to many Airbnb hosts as a short-term rental analytics tool since 2015. This tool allows you to see short-term rental data from any market worldwide.

Why hosts are looking for AirDNA alternatives? The most common reason is data accuracy. Furthermore, their granular data points, such as listings level data or historical data from 2015, are not available in their Pro plan. Those are exclusively available in Advanced plan, and you need to speak to their sales people before trying it out and to get a pricing quote.

We have tried our best to list out all the AirDNA alternatives to help you find what’s best for you. Before that, here’s a quick rundown.

Top 3 alternatives 🚀

AllTheRooms: Cheapest alternative.

Mashvisor: Alternative for US investment search.

Airbtics: The most accurate alternative.

Other sites like AirDNA 🔎

Rabbu: For realtors.

InsideAirbnb: For academia and activists.

BeyondPricing & PriceLabs: For property managers.

We also included one free AirDNA alternative at the end of the article!

What is the use of Short-term Rental Analytics?

1. TO UNDERSTAND THE POTENTIAL CASH RETURN OF A NEW SHORT-TERM RENTAL INVESTMENT

People who are thinking of buying a vacation home need to figure out how much they will make if they buy a certain property. It’s especially important for short-term rental investments because depending upon the location and demand for the property, the net rental yield can vary from 1% to 25% annually. The right data points should allow you to differentiate high-yield properties from low ones.

2. TO INCREASE AIRBNB’S INCOME BY PRICING BETTER

If you already own rentals, pricing is one of the most important aspects if you’d like to increase your revenue. The correct pricing helps you to get more bookings at better prices, attract the right guests, and keep running a profitable short-term rental business! The right short-term rental analytics should provide actionable insights into the prices you should set for your property.

3. TO SET BENCHMARKS BASED ON THE TOP-PERFORMING PROPERTIES

The saying goes, “If you can’t measure, you can’t improve”. If you’d like to improve your short-term rental business, you need to compare your property against the market’s top performers and average performers. What is your property’s performance (occupancy rate, daily rate, booking lead time) when measured against your market? The right short-term rental analytics should allow you to benchmark your property against competitors.

There are two points to mention in our coverage of short-term rental analytics options.

Data quality is important and we measured data quality by the type of metrics shown and the granularity of the data.

Data coverage is another essential factor, and we measured data coverage by geographic coverage and data update frequency. Now, let’s get to the tools we looked at for this article.

Review of Top 8 AirDNA alternatives & competitors

1. Airbtics

Airbtics is the highest quality short-term rental analytics. The company was started by Jae An in 2019. Airbtics tracks all the Airbnb listings, and is accurate enough for them to predict Airbnb’s Gross Booking Value with 97% accuracy before they release their quarterly earning report.

We gave five stars for data coverage since they cover global markets and update data every day or every week, depending on which plan you choose. For data quality, we would give it five stars because it provide individual booking and pricing projections, guest origin, detailed revenue breakdown, and individual property performance data. Furthermore, they have the best Airbnb Calculator.

Unlike AirDNA, this short-term rental analytics provides a 15-day money-back guarantee, which means if you aren’t happy with their service, you can cancel your subscription. Nevertheless, Airbtics customers seem to be pretty happy with the value they’re getting.

Alongside this, you can book a free consultation call with their customer support if you want more guidance in finding the best places to invest.

Another great thing about Airbtics is, that they also provide custom data and API for vacation rental managers, tourism boards, investors and financial institutions.

2. AllTheRooms Analytics

AllTheRooms Analytics helps you to analyze short-term rental markets and monitor your short-term rental competition.

First, we gave four stars for data coverage since they cover global markets, but they don’t clearly state how frequently they update their data. What our analysts found is that their market data seems to be updated every month.

Secondly, we gave three stars for data quality because AllTheRooms provides supply, booking lead time, and future booking data at the market level. Unlike Airbtics, the platform doesn’t have guest origin or individual property performance data. All The Rooms have basic and pro plans which cost $19 and $49 per month. Their filter allows you to get insights into the market performance of various types of properties and has a few more options than AirDNA.

3. Mashvisor

Mashvisor helps property investors immediately find out what kind of returns a property will provide and what you need to outperform the rental market. We gave one star for data coverage since Mashvisor only has U.S. market data.

Next, we gave two stars for data quality because Mashvisor doesn’t provide details for important metrics like booking lead time, property level future pricing data, extra guest fees, and the like.

Even though they don’t provide detailed short-term rental metrics, their pricing seems to be attractive for U.S. property investors.

You can now explore market data of a few U.S. neighborhoods at $60/quarter.

4. Data Rabbu

Data Rabbu is an online platform that tracks the performance of Airbnb properties in the USA. Particularly assisting real estate investors and property managers to determine profitability and optimize business, Data Rabbu offers end-to-end property management services. Although it has a feature that presents insights into Average Daily Rates, Occupancy Rates, and Monthly Revenue, one of the downsides of using Data Rabbu is it could be difficult for new users to navigate data. It’s also limited to accessing data only within the USA, therefore, property investors who want to invest in other places outside America will need to use the right software that focuses on short-term rental analytics with the option to analyze data from other countries in the world.

Data Rabbu is free to use!

5. STR Insights

STR Insights is a new option that features the US market for your short-term rental property. Similar to other short-term rental tools, STR insights presents comprehensive data for revenue potential and property values. According to their website, a monthly subscription with STR insights costs $390/mo. On a personal note, it’s a little difficult to gauge this software’s reliability as there aren’t a lot of user reviews yet.

8. WheelHouse, PriceLabs, DPGO and others

Before we sum up, we’d also like to mention the above dynamic pricing solution providers in this post since AirDNA also offers future pricing data to properly set a price for your rentals. But did you know that these dynamic pricing tools also show some basic market insights and advanced pricing data for your markets? If you already manage properties and you are looking for a tool for pricing, these 3 tools are for you.

Still, many tech-savvy revenue managers (or Airbnb hosts) are not happy with dynamic pricing solutions because they constantly have to override the suggestions. If this sounds reasonable to you, you may want to check out Airbtics CompSet page, which allows you to build your own Competitor Sets and track their next 365 days’ rates and booking situations.

To learn more, here is a youtube video that explains more about the CompSet feature.

What are the best AirDNA alternatives?

To sum up, Airbtics and AllTheRooms are AirDNA’s direct competitors. On the other hand, Mashvisor, WheelHouse Pricing, and Beyond Pricing are AirDNA’s indirect competitors.

After our analysts compared all the tools, they concluded that Airbtics is the best AirDNA alternative based on our criteria (data volume, data coverage, pricing). Here are the things we liked best about Airbtics:

Covers worldwide markets
Has 12 months of projected pricing data at the property level
Has historical individual listing performance data
Has advanced filtering (e.g. beachfront, view) options
Has guest origin and tourism insights data

A growing number of people are choosing Airbtics over AirDNA in 2024, but as you can see, choosing the right short-term rental analytics tool for your property investment or Airbnb management business requires you to evaluate quite a few things! Not a simple task. Hope our post guided you a little better.

Are there any free AirDNA alternatives?

InsideAirbnb: It’s a free website launched by Murray Cox in 2016 to debunk illegal Airbnb listings in NYC. It only has coverage in a few cities. Therefore, if you are looking for data points for investing or managing Airbnb, this might not be the best tool.

How accurate is AirDNA?

AirDNA and Airbtics get data by web scraping. They are able to track the bookings made from other sites like VRBO or Booking.com. However, at the individual listing level, the data is not 100% accurate; more like the data is within a 10% difference in 95% of cases. Still, their data is fairly accurate at the market level. Here are two tips on improving accuracy:

1. Review the comps. These software choose comps based on their pre-defined algorithms; each short-term rental property is unique. Therefore, you need to choose which listings you want to compare the data for.

2. Remove anomalies. Beware of extreme data (like a 95+% occupancy rate).

Notable Mentions

Awning is a property management company that provides free short-term rental insights for the US nationwide. Their data is powered by Airbtics! Although their data is mainly from 2022, this can give you a quick insight into your market.

SeeTransparent is another company providing short-term rental data. They mainly focused on the European region. They were acquired by OTA Insight in 2022. Now, they renamed their product as “Lighthouse“.

Conclusion

In summary, there is a wide variety of best short-term rental analytics in the market that are extremely reliable and accurate. Airbnb investors should certainly not make impulsive decisions without conducting thorough market research.

It’s 2024 – and you shouldn’t settle for less! Basing your investment decisions on guesses and intuitions are no longer applicable in the digital era. The AirDNA alternatives mentioned in this article will open doors to even greater opportunities to leverage your business.

Whether you are a property investor, manager, or an Airbnb host running a short-term property business, it’s highly recommended to check on several alternatives to find the best fit for you. With the help of comprehensive and updated STR software like Airbtics, you can stand out from vast competitors within your area and make the wisest investment decisions based on accurate data.

Tags Alternatives, pillar, Popular

Airbnb Rental Arbitrage All About Airbnb

Rental Arbitrage Philippines

Post author By Shivam Kaushik
Post date October 2, 2021

Table of Contents

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Introduction

Owning a house is every Filipino’s dream, and renting out is already considered a luxury afforded to just a few. But what if we tell you that you can rent out a property without actually owning it? Rental Arbitrage enables this setup. It is a smart way to earn passive income with only minimal investment!

In this guide, we’ll explain rental arbitrage in layman’s terms and provide some expert tips. We also included the best areas to do rental arbitrage in the Philippines to help you make the best investment decisions. Stoked to learn more? Continue reading!

What is Rental Arbitrage?

Rental Arbitrage is a method similar to house hacking, where you rent out a spare room in your property. The difference between these two is you don’t need to own the house in rental arbitrage. Instead, you convince the property owner to allow you to sublease the house on Airbnb and VRBO.

Rental Arbitrage is applicable to multi-room apartments, houses, and condo units – as well as duplexes, and triplexes. It is a smart way to add a stream of income through the short-term rental of your subtenants. This allows you to pay your own rent and earn more.

Assume that you are renting a three-story house in Makati for $1,800 (approximately Php 99,000) per month. You are living by yourself on the top floor, and you decide to sublease the rest of the house on Airbnb.

Let’s say you listed it for $100 (Php 5,500) per day and got 80% occupancy. This will bring in approximately $2,600 or Php 143,000 monthly revenue. Not only will it fully cover your rent, but it will give you a profit of $800 (Php 44,000). This, in a nutshell, is called Rental Arbitrage.

Is Rental Arbitrage allowed in the Philippines?

Condominium apartments mostly comprise the listings on Airbnb Philippines. This entices owners to buy and rent out adjacent units for a steady stream of passive income. However, the comings and goings of short-term renters in the neighborhood are seen as a compromise on the building’s security. Furthermore, some condominium unit owners place a high value on the development’s exclusivity. They view short-term rental as a business that lowers property values.

Some condominium communities have established bylaws that discourage Airbnb lessors within the buildings. One of which is the association prohibiting rent of fewer than 60 days. Since Airbnb monthly rentals in the Philippines rarely meet this condition, this restriction prevents short-term rental operations from taking place at all.

The Condominium Act of 1966 governs the legal relationships between developers and condominium unit owners. The act spells forth the rights and responsibilities of a condominium unit buyer, as well as the authorities of the condominium association or company that oversees the project.

Owners who do not support Airbnb business miss a very important point. The Act clearly grants condominium unit owners the right to ownership, which allows them to lease their units to any renters as part of their ownership rights.

The Act only grants the building management’s corporate functions, which only cover “common areas…project management, and such other purposes as may be required, incidental, or convenient to the fulfillment of said purposes.” While condominium associations can justify prohibiting short-term rental operations on the grounds of building security, these concerns are not at all significant and cannot encroach on any individual’s right to ownership. As long as you Airbnb business permit in the Philippines, your short-term rental business is legal to operate.

How To Start Rental Arbitrage in the Philippines?

1. Convince the landlord

Let’s say you want to get into Rental Arbitrage. Now comes the big question, how to find a suitable property and how to convince the landlord. Later in the blog, we’ll be explaining how to find a good property by doing proper research using Airbnb analytics. In this section, we will be focusing more on how to convince landlords. As you’ll begin your Rental Arbitrage journey, you’ll come to know that this is the hardest part of the whole process.

You need to be prepared and well-researched about the Airbnb demand in your area. Good communication skills will also come in handy here. Another thing to always keep in mind: never sublease without informing the landlord! There will be a huge number of people coming in and out when you’re sub-renting. It will only be a matter of time before the landlord figures out what you’re up to, and you might end up getting in trouble.

For convincing the landlord, rule number one is always talking about the upsides. If you can rent the property on Airbnb, so can the landlord himself. You need to make a deal with the landlord that is beneficial to them. So they lease the property to you instead of renting it by themselves.

Points to tell an indecisive landlord.

Doing rental arbitrage is a full-time business. It doesn’t generate passive income like long-term leasing. You should try approaching older people who are looking for some sort of passive income.
They are more likely to agree to a fixed long-term lease. You can also reach out to full-time working professionals or business owners. They will also be happy with a source of passive income until their property is well maintained. This brings us to our next point.
You’ll take care of the house better than a normal renter. As you are using the property for Airbnb, you will maintain it very well to make sure you get better reviews. Having a beat-up property isn’t good for business and you are more likely to monitor it often.
Not monitoring it will affect your revenue a lot. You may end up paying a huge sum of money for damages done by someone else. So telling this to the landlord might instill some confidence in them.
You can ensure timely monthly rent. You can tell the landlord that doing rental arbitrage is a full-time business with ups and downs. It doesn’t guarantee fixed income at all like long-term leasing. But if they lease it to you, you’ll make sure to pay the lease no matter what. Either from the money made after rental arbitrage or from your savings. You need to ensure timely monthly lease payments to gain the trust of the landlord.

In conclusion, you need to take care of the property like your own. Make sure to timely pay the monthly lease and keep the situation beneficial for both parties. You can also use a free rental arbitrage email template and propose your ideas to landlords!

2. Ensure the property and gain the landlord’s trust

Being on the safe side is always a good idea. Use the right tools to ensure the property is safe, and the neighbors can go on with their lives happily while you do rental arbitrage. Many landlords will have this concern when renting out their property to you. They will be worried about neighbors raising noise complaints, and it’s a legitimate concern. To help you with all these problems, here are some suggestions that you can implement:

SimpliSafe – These are home monitoring tools that you can install in the house to make sure no suspicious activity is happening there. Make sure to let the guests know about them and have their consent.
Auto host – Automatically screens problematic tenants.
Alexa Guard: If you already own an Alexa, you can use its Alexa guard feature to detect parties. It is an inbuilt feature that monitors changes in sound and sends you an alert in case the guests are having a party and making too much noise.
InsuraGuest – This insurance and tech company helps you with risk analysis and gives protection beyond Airbnb and VRBO policies.
Airbnb Calculator – Give your landlord ease of mind by providing income estimates backed by Airbnb data.

You can integrate the majority of these tools with a PMS of your choice.

Pros and Cons

Be prepared for what you can expect from Rental Arbitrage in the Philippines:

Pros

- No purchase of property required
- Low upfront costs
- Opportunity to repeat and scale easily
- Generate profit for other investments or business

Cons

- Invest money and time in furnishing the property

How Much Can I Make from Rental Arbitrage in the Philippines?

Airbtics’ data confirm that an Airbnb host in Manila, particularly in Makati City, can earn an average nightly rate of $49 or approximately Php 2695. This is by operating a 2-bedroom apartment/flat alone! Airbnb hosts are expected to generate an annual revenue of $6,166 (Php 339,130) with a steady occupancy rate of 34%.

What are the initial costs of starting Rental Arbitrage in the Philippines?

You can expect to spend anywhere between Php 165,000 ($3,000) to 275,000 ($5,000). This cost includes deposit, furnishing, amenities, legal paperwork, and LLC incorporation.

But doesn’t this contradict the low upfront cost of rental arbitrage? Well, these estimates vary from city to city. There is a possibility to do rental arbitrage for even less than this depending upon your situation and the type of property you lease.

Still, the amount is much less than investing in a new property and getting a mortgage of millions of pesos. Plus you won’t be on the hook for property maintenance expenses and being stuck for years with debt.

But this doesn’t mean rental arbitrage can be done with zero or on a very tight budget. There will be some upfront costs that you will have to prepare for by having some extra cash on hand. It will help pay off the lease during the off-season.

Expense 1: Rental Deposits

A rental deposit is going to be your first major expense. You will need money to be able to sign a long-term lease with the landlord. For that, you will need a security deposit for your first and previous month’s rent. Sometimes you can negotiate with the landlord and use the first month’s rent as a security deposit.

Expense 2: Furnishing

Ideally, you should aim to lease a place that is semi-furnished. Furnishing a place from scratch can add anywhere from Php 165,000 to Php 275,000 to your initial capital. Not choosing the right property can make rental arbitrage not so low cost, so choose wisely.

If the place is semi-furnished, then your best bet is to shop cheap for the rest of the stuff. You can go and find cheap supplies from places like CW Home Depot and IKEA. Sometimes even Puregold can have a hidden gem if you look closely.

Expense 3: Photography

It’s highly recommended to try DIY photography as a start to save money. You can even learn how to take the best Airbnb photos to highlight your listing! But if you have the budget, hiring a professional photographer is also an excellent option.

Expense 4: Cleaning Services

This is not a starting cost, but you will end up spending on cleaning eventually. The best way to save money is to do it yourself initially if you have the skills and experience.

If you have no experience or you don’t want to invest time in cleaning a place, then your best bet will be to hire a professional cleaner. This can cost you anywhere from Php 2,500 to Php 8,000 depending upon the size and location.

Expense 5: Legal Consultation

Maintaining a professional relationship with a Real Estate lawyer can be very helpful in the Airbnb business. Airbnb regulations keep updating and you would need some legal guidance on the way to adjust your business accordingly.

They can also come in handy if you face any legal issues with the landlord or guests. They can help in damage claims and insurance as well in case of any mishappening.

Best areas for Rental Arbitrage Philippines

1. Dasmariñas

According to Airbtics Dashboard, Dasmariñas is the top market to start your rental arbitrage business. There are more than 47 Airbnb listings with 390 private rooms properties and 267 one-bedroom properties. The annual revenue for most properties is more than $1,183 or Php 65,065 with occupancy being more than 9%.

2. Maharlika Village

According to Airbtics Dashboard, Maharlika Village is the second-best market to start your Rental Arbitrage business. There are more than 23 Airbnb listings with 438 private rooms properties and 746 one-bedroom properties. The annual revenue for most properties is more than $1,023 or Php 56,265 with occupancy being more than 5%.

Conclusion

In summary, rental arbitrage in the Philippines can be a very profitable side income. Since it does not require you to purchase a property, it’s also practical for beginners trying to be landlords without spending millions.

Leverage your opportunities in rental arbitrage by using a free Airbnb calculator and determine the best areas that will bring long-term profitability!

Tags Airbnb Rental Arbitrage, lat_14.3270819, lng_120.9370871

All About Airbnb How to Start an Airbnb

How to Start Airbnb in Canada

Post author By Shivam Kaushik
Post date October 2, 2021

How to start airbnb in canada, this question is in every new host’s mind when starting out their journey. Let’s get the answers today!

Home > Resources > How to Start an Airbnb >

How to start airbnb in canada, this question is in every new host’s mind when starting out their journey. Let’s get the answers today!

September 4, 2023

If you’re wondering how to start Airbnb in Canada, you’ve come to the right blog. Before we get to the answers to your questions, let’s talk about Airbnb.

Most people who start their STR (Short-Term Rental) journey usually do it as a side hustle. Many are looking to rent out a spare room, a second home, an attic, or a vacation home. On average, an Airbnb income potential is $1,000/-month as a side hustle. But there are many hosts doing STR as a full-fledged business and making a fortune. In fact, most people making a fortune doing Airbnb full-time are mostly doing Rental Arbitrage.

Here’s what you need to know about Airbnb

Airbnb has established itself as a stronghold in the real estate industry, connecting property owners with individuals who want to learn about different cultures and activities. Airbnb, a prominent short-term home rental service, offers both homeowners and visitors new options. When done correctly, Airbnb hosting can help you earn a lot of money. If you have spare space in your home, Airbnb might be a great way to supplement your income or perhaps convert your hobby into a full-time job.

How Airbnb works for hosts?

Airbnb offers a variety of hosting choices, including renting out the extra room in your house, renting out your complete home, and hosting local experiences. Here’s a step-by-step guide on how Airbnb works for hosts:

1. You must first create a free Airbnb account in order to start renting out the extra room in your house.

Then, in the upper right-hand corner of the page, click “become a host.”

2. The next step is to establish a listing for your space. A listing is similar to a profile page for the place you wish to rent which issimilar to a social media profile. The more attractive and descriptive your page is, the more people will see it.

3. It’s a good idea to make your area as appealing as possible and learn how to take the best Airbnb photos. What should your fee be? Airbnb assists you in determining pricing by displaying local averages.

On Airbnb, you can also make money by hosting an experience. “Airbnb experiences are activities created and conducted by locals who are passionate about what they do. They go above and beyond traditional tours or seminars by immersing guests in a host’s unique world,” according to the Airbnb website.

If you wish to host an experience, look over Airbnb’s quality guidelines for experience criteria. Basically, the visitor must be given access to something, be able to participate in something, and be given a unique perspective. Design your experience after studying the quality requirements and submitting it to Airbnb for approval. You are now ready to publish and host your experience after it has been authorized.

2. Airbnb host requirements in Canada:

Non-residential

Given the fact that collecting rent from Canadian real estate or disposing of Canadian real estate might make you liable to Canadian income tax, determining whether you are a resident or non-resident of Canada can be rather complicated.

You must pay Canadian income taxes if you are a non-resident of Canada and have taxable rental income in Canada as a consequence of your Airbnb taxes. The income tax treaty between Canada and the United States, however, can offset the tax rate. You should follow the guidelines described in Income Tax Guide Under Section 216 since you are receiving rental income.

However, you can decrease the amount of tax you owe by filing a separate Canadian tax return to report your rental income.

Residential

If you are deemed a Canadian resident, you must adhere to the tax regulations that apply to residents. Except for Quebec citizens, Airbnb hosts in Canada are required to report their Airbnb revenue to the Canada Revenue Agency (CRA). Your gains from rental activities will most likely be deemed rental income if you include typical amenities that are common to all rentals, such as heat, electricity, in-suite laundry, and parking. If you offer extra services like cleaning, security, or meals, you will be deemed a company.

Before you second-guess yourself, remember that because you’re reporting the income, you’re also eligible to deduct expenses linked to that revenue.

3. What are the tax benefits that Airbnb hosts claim in Canada?

Whether your Airbnb revenue is classified as rental or company income, you’ll want to deduct as many qualified costs as possible to lower your tax bill. Here are some examples of vacation rental charges you can claim:

The interest on your rent or mortgage
The cost of cleaning products or the cost of a cleaning service
The cost of new towels and bedding for guests
Any small additions or renovations to the guest area (i.e., adding a fresh coat of paint to the room)
The price of breakfast and snacks for visitors
Soap, shampoo, and other toiletry costs
Whether you rent a storage locker or place a lock on a cabinet, you may have to pay fees to store your belongings
The expense of adding a keypad or lockbox so that guests may check in themselves
The price of creating new keys
Any maintenance or administration costs you could pay to have your listing maintained by a third party
If you own your house, you will have to pay property taxes (only for the period your property was available for rent)
Travel expenses to and from your rental property to collect rent, check on visitors, prepare the property, and so on.

4. Responsible hosting in Canada

Cleanliness and good health- In general information about hosting places to stay, you may find information on Airbnb’s 5-step improved cleaning procedure.

5. Permissions and general regulations

It’s crucial to double-check that you’re allowed to host on your property. Contracts, legislation, and community rules are all examples of constraints. Consult a lawyer or your local government to learn more about the regulations, limits, and requirements that apply to your situation.

Permits and contractual agreements- Subletting and hosting are sometimes prohibited by leases, contracts, building regulations, and community rules. Examine any contracts you’ve signed or get in touch with your landlord, community council, or other government agency.
Mortgage stipulations- Check with your lender to see if there are any limits on subletting or hosting if your home has a mortgage (or any other type of debt).
Housing limitations that are subsidized- Subsidized housing frequently includes restrictions prohibiting unlicensed subletting. If you live in a subsidized housing neighborhood and want to become a host, contact your local housing authority or housing association.
Housemates- Consider creating a formal agreement with your housemates to outline expectations if you share a home with others. Housemate agreements might cover topics such as how often you expect to host, guest etiquette, revenue sharing, and more.

6. Courtesy

Helping your visitors understand appropriate practices for interacting with your community is an important part of being a responsible host. You’re helping to create a fantastic experience for everyone when you share local norms and customs with your guests.

Rules of the house- Your home rules can be entered in the Additional remarks area of your Airbnb account’s Listing information. When you express your expectations with your guests up front, they typically appreciate it.
Neighbours- If you’re going to host, it’s typically a good idea to notify your neighbors. This provides them the opportunity to express any issues or reservations they may have.
Parking- Inform your visitors about any parking restrictions in your building or area. For example:
- Only park in an allotted spot on Tuesdays and Thursdays due to street cleaning
- Don’t park on the west side of the street on Tuesdays and Thursdays due to street cleaning
- Street parking is only accessible between 7 p.m. and 7 a.m.
Pets- To begin, check your lease or building bylaws to see if there are any pet restrictions. If you allow guests to bring their dogs, they’ll enjoy knowing where they can exercise them and dispose of their waste. If a guest’s pet annoys the neighbours, have a backup plan in place, such as the phone number of a local pet kennel.

7. Insurance

Work with your insurance agent or carrier to figure out what kind of responsibilities, restrictions, and coverage you’ll need for your individual situation.

Host Protection Insurance and Host Guarantee- The Host Guarantee and Host Protection Insurance offered by Airbnb provide minimal coverage for the stated damages and liabilities. These, however, do not replace homeowners’ or renters’ insurance, nor do they provide enough liability coverage. You may also be required to meet other insurance requirements.
Basic insurance benefits and liability- Check with your insurance agent or carrier to see if your homeowners or renters policy provides enough liability coverage and property protection for your listing.

Looking for the Best Canadian Cities for Airbnb Investments?

If you are looking for a lucrative Canadian rental market, make sure to check out the most profitable Airbnb locations in Canada!

8. How much can an Airbnb host earn in Canada?

While Airbnb occupancy rates in Canada vary per city, it’s important to know beforehand about your profit as a host. For instance, here is a graph of the average monthly revenue and occupancy rates of 5 major cities in Canada.