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 Winnipeg 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 Winnipeg.
Is Airbnb legal in Winnipeg?
Don’t worry, Airbnb is legal in Winnipeg! This city has over 600 murals and is home to many beautiful world-class museums and festivals. This attracts millions of tourists visiting Winnipeg annually which affects the city’s rental growth & demand!
Here is a little proof! As of June 2022, there are 10,365 nights available in Winnipeg from Airbnb alone. Nest Host manages 61 listings, while Alberto and Roam Rentals operates 27 and 23 respectively.
How much can I make by running an Airbnb in Winnipeg?
Currently, there are 797 Airbnb listings in Winnipeg, with 42% of entire houses earning up to C$1,369 a month. The Average Occupancy Rate in Winnipeg is 53% and the average daily rate is C$64. According to short-term rental data source Airbtics, a 2-bedroom apartment in Winnipeg can make up to C$26,930 each year. Check out our Short-Term Rental Income Calculator!
Short-term Rental Policy in Winnipeg
Currently, there are no regulations on short-term rentals in Winnipeg, but here are some of the recent updates to take note of:
- City development officials in Winnipeg are planning to spend the next six months working on regulations for short-term rentals that could require owners to register with the city and submit to criminal background checks.
- The city may also limit the number of short-term rentals in a specific block or individual condominium unit, restrict the rentals to primary residences and make them subject to the same 5% municipal accommodation tax hotels are required to pay.
Rental Demand in Winnipeg
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 Winnipeg rent report, there is an adequate supply of affordable rentals which is a struggle for lower-income households.
Source: Winnipeg Rental Demand
Property Investment in Winnipeg
If you are looking to start an Airbnb business in Canada, particularly in Winnipeg, you have to consider which areas are the most profitable. Whether it is located in the city centre or in the countryside, knowing your estimated annual revenue and high-return investment opportunities is important. Using an accurate short-term rental calculator, it shouldn’t be a difficult task at all!
Rental Properties in Winnipeg
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 Winnipeg, so here are some of the most recommended areas that you can look into & consider purchasing:
| Area | Average House Price | Average Rent Price (pcm) | Average Airbnb Revenue |
|---|---|---|---|
| Downtown | C$401,047 | C$1.412 | C$2.659 |
| River - Osborne | C$309,900 | C$1,490 | C$2,263 |
| Wolseley | C$337,590 | C$1,120 | C$2,436 |
Conclusion
In my personal opinion, the biggest advantage of running a short-term rental is 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!
