Last updated on August 30th, 2023
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!
- Last updated on
- August 30, 2023
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.
Is Airbnb legal in Niagara Falls?
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.
How much can I make by running an Airbnb in Niagara Falls?
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!
Short-term Rental Policy in Niagara Falls
- A licensed Bed and Breakfast (BNB) is permitted with an owner-occupied detached dwelling (or dwelling unit of a duplex or semi-detached dwelling), where these dwellings are permitted in residential and commercial zones, subject to the regulations contained in By-law No. 2018-91.
- Operators of Vacation Rental Units and Bed and Breakfasts are to be in possession of an active license to operate. Applications for Vacation Rental Units and Bed & Breakfasts can be found on the Business Licensing Page.
- Council passed a bylaw to allow a bed and breakfast of up to three bedrooms in an owner-occupied dwelling unit in three residential zones and up to four. bedrooms in the River Road district.
- The new bylaw establishes new contemporary definitions, operational rules, and inspection requirements which must be met before opening.
- Under the new bylaw, these licenses remain the property of the city and are non-transferrable. In addition, any operator who receives three violation notices will have their license suspended. Anyone caught operating without a license would be subject to a chargeable offense.
- The city requires a $65 fee per year for a tourist-home license. An initial application fee of $500 will be required for a new vacation rental unit or bed and breakfast license (or change of ownership), and an annual fee of $250 for the renewal of any existing license. Access the application form here.
Discover the most profitable Canada Airbnb markets around where you live.
Comprehensive Exploration of Short-term rental & Real Estate Trends in the Top 40 Canada Cities for Prime Airbnb Investments! Find the best places to own and invest an Airbnb.
Rental Demand in Niagara Falls
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
Property Investment in Niagara Falls
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!
Rental Properties in Niagara Falls
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:
|
|||||
|---|---|---|---|---|---|
| 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
- Average House Price: C$707,450
- Annual Airbnb Revenue: C$39,971
- Gross Rental Yield: 5.65%
- Average House Price: C$639,000
- Annual Airbnb Revenue: C$35,002
- Gross Rental Yield: 5.48%
- Average House Price: C$717,000
- Annual Airbnb Revenue: C$44,630
- Gross Rental Yield: 6.22%
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!
Short-Term Rental Data
Short-Term Rental Data
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