Airbnb Rules in Niagara Falls Ontario: What You Need To Know: Airbnb & short-term rental rules are important for hosts and property investors’ success in Niagara Falls, Canada. Find out more & be a pro!
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Airbnb & short-term rental rules are important for hosts and property investors’ success in Niagara Falls, Canada. Find out more & be a pro!
If you are looking to buy investment properties in Canada, knowing the Airbnb rules in your preferred city is the first step. It’s also important to consider the occupancy rates in Canada in order to have successful investment & long-term profitability! In this article, we featured Airbnb regulations in Niagara Falls along with short-term let policies, rental properties, things to consider in property investment, and more. Continue reading and learn more about the Airbnb rules in Niagara Falls Ontario.
Don’t worry, Airbnb is legal in Niagara Falls! This city is home to the famous waterfalls itself – Niagara Falls and is a popular neighborhood because of its easy accessibility to tourist attractions, shopping districts, restaurants, and more.
Here is a little proof! As of August 2023, there are 610 active listings in Niagara Falls. In fact, David manages 17 listings, while CChloe and Vacarya operate 15 and 9 respectively.
Most of the listings in Niagara Falls are entire houses. They have an average occupancy rate of 48% and can earn up to C$37,290.
Meanwhile, the Average Occupancy Rate in Niagara Falls is 46% and the average daily rate is C$169. According to short-term rental market data source Airbtics, a 2-bedroom house in Niagara Falls can make up to C$33,914 each year. Check out our Short-term Rental Income Calculator!
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There are many hosts who are doing rental arbitrage in Canada as it does not require you to own a property. Based on a recent real estate report on Niagara Falls, the housing demand continues to rise, although slowly.
Source: Niagara Falls CA Housing Demand
If you are looking to start an Airbnb business in Canada, particularly in Niagara Falls, you have to consider which areas are the most profitable. Whether it is located in the city center or in the countryside, knowing your estimated annual revenue and high-return investment opportunities is important. Using an accurate short-term rental calculator shouldn’t be a difficult task at all!
Once you have decided to buy a property, you have to consider the average price, population, nearby landmarks or attractions, and rental yields to expect – among the rest. It could be a challenge to find rented properties in Niagara Falls, so here are some of the most recommended areas that you can look into & consider purchasing:
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Area | Average House Price | Annual Airbnb Revenue | Gross Rental Yield | ||
Niagara Falls Centre | C$707,450 | C$39,971 | 5.65% | ||
Ryerson | C$639,000 | C$35,002 | 5.48% | ||
Corwin | C$717,000 | C$44,630 | 6.22% |
Area
Airbnb Dataset
The figures above are just estimates. House prices and Airbnb revenue vary. So, make sure that you find the best property type as well as the best number of bedrooms in your prospective Airbnb market.
Conclusion
In my personal opinion, the biggest advantage of running a short-term rental is a high return! I’ve talked to hundreds of Airbnb hosts over the past years and frequently met hosts making 15-30% gross rental yields, and 10-20% net. It’s also fun to do!
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