Thanks for watching and for your thoughtful questions! 😊 Let me break this down: Multiple Airbnbs in Toronto: Unfortunately, no, you can’t have multiple Airbnbs in Toronto. The city’s short-term rental rules are strict-you can only rent out your primary residence. So, if you’re thinking of managing multiple Airbnbs, it wouldn’t be allowed under the current regulations. Where Do People Live While Renting Out Their Primary Residence? This varies! Some people use Airbnb while they’re traveling for extended periods, away for work, or staying with family or friends. You don’t have to disclose where you’re staying when renting out your home, but keep in mind you’re capped at 180 rental nights per year. Condo Appreciation Rates in Toronto: The market has been a bit slow over the last 5-6 months, so annual appreciation rates for this year right now are on the lower side at around a break even or slightly negative. If we take a 20 year average, Toronto condos have appreciated at around 6% per year over the long term. That said, markets are always cyclical, and right now we’re in a bit of a dip. What Could Studio Apartments Be Worth in 5-10 Years? No one has a crystal ball, but I’ll say this: Toronto is a growing city, and rates have started to gradually come down this year, which could bring more activity into the market. Over the long term, condos are usually a safe bet if you plan to hold them for years. The only folks who’ve lost out recently are those who bought at the peak back in 2022. For everyone else, values have steadily climbed over time. Hope that helps! Let me know if you have more questions-reach out and I'm happy to help.

I mean if your only problem with this unit is the lack of an extra parking spot I’m sure we can find you one! 🙂

Zain bro! I made this TN myself ! That hurts 😂

Your thumbnail is okay, but it doesn’t fully build trust, especially since you're making comparisons in this video

@@Fadynakhlarealestate I can make it better for you! If you agree, can I redo it? Let me know where I can send it to you

That's a great question! If you're doing short-term rental in Toronto, the city bylaws require the unit to be your primary residence and you're only allowed to rent it out short-term (nightly) for maximum 180 nights per year. That being said, if you're doing Airbnb for less than 50% of the year in your primary residence which is the case here at 180 days/365 days per year - then as per the CRA, you won't be responsible for paying that HST. If you have any other questions feel free to reach out to me directly 😃

Hey Griffin, appreciate your comment, but just to clarify-this video is about buying the unit as a buyer and exploring its income potential through Airbnb. We're not talking about selling the unit or looking through the perspective of the seller. The scenarios focus on what happens after you buy, not what happens if it doesn't sell (which isn’t relevant from a buyer’s perspective). Hope that clears it up!

Hey Yossi ! I appreciate your input, and I totally understand where you’re coming from! It’s true that right now, long-term rentals often don’t break even-like in the example I shared in the video, where a long-term rental would be about -$1000 monthly. That’s actually why I’m advocating for Airbnb in situations like this. Even with the extra expenses of short-term rentals (vacancies, cleaning, damages, etc.), I’ve found from personal experience that it still makes significantly more money compared to long-term renting. Of course, the market can be unpredictable. Real estate has always had its ups and downs, and I think we’re definitely in a down phase at the moment. No one has a crystal ball to predict the future, but the market has always bounced back in time - based on history. Regarding capital gains-this is something every investor in Canada has to deal with, whether it’s real estate or stocks. Personally, I don’t see it as a reason to avoid investing altogether. In the long run, the potential for growth often outweighs the tax implications, in my opinion. At the end of the day, everyone’s strategy is different, and I appreciate hearing diverse perspectives. Thanks again for sharing yours!

Thanks! I appreciate that 🙂

I am in toronto.

Good evening! That’s very unfortunate. Email me at [email protected] and we can discuss your case further. With more information I can tell you what you can or cannot do. Thanks !

Hey ! That's a great question and to be honest with you I don't have a definitive answer for you. I do know that there are data-sharing agreements with Airbnb, so that data is open and Airbnb may share information with the CRA if needed. Most municipalities have an open database of Airbnb operators, for example in Toronto you can get a full list of all the current Airbnbs in the city with their full address - so the information is there and then when you couple that with the rental income that is reported, they can probably figure out if the unit was bein used a short-term rental. If I had to guess I would say that when you sell a property, the CRA would then review the taxes on rental income and the capital gains and then depending on where your property was located, how much taxes were paid, etc they would then decide to audit further. They may also be more likely to audit areas with high short-term rental activity, such as downtown Toronto. At the end of the day I think it's unlikely that the CRA is pursuing every single Airbnb operator, but I think at this point, wither Airbnb becoming more and more popular, it's something that may be more on their radar.

sometimes !

Hey ! I would definitely consult an accountant or tax lawyer but based on the CRA website, If you're doing Airbnb for less than 50% of the year in your primary residence which is the case here at 180 days/365 days per year - then you shouldn't need to pay the 13% HST when you sell your home. This is regardless of how much money you make. Hope that helps!

@@Fadynakhlarealestate Then what about 90 percent threshold they talked about ? what is that thing ?

​​⁠Straight from the CRA website, “The purchase of a vacation property is also taxable where the property is not used primarily (more than 50%) as the vendor's place of residence and all or substantially all (90% or more) of the rentals of the property are for periods of less than 60 days” So if the property is NOT your primary residence and is used 90% or more of the time as a short term rental, meaning a majority of the time you rent it, it’s nightly as a short term rental, then HST will be due on the sale. So this will not apply to any property in Toronto as the city bylaws require the unit to be your primary residence and only allow you to short term rental for maximum 180 nights per year

As someone who owns properties I do not agree!!! 😂 and the less people who own properties means that there is also less rentals for people!

@victoriam597 the government wants money. Someone has to pay them to keep up their spending. It's either your properties or your incomes. I think the choice is very simple. As for housing supplies, do you really think the Canadian government cares? We can all live in gutters, as long as the government gets the money

I think the reality is the government is going to tax your income whether you own properties or not. EVEN if they took 13% HST on all property sales, I very highly doubt anyone would get a tax break because like you said, they just want the money.

Hi Kristel, the property must be your primary residence if you want to Airbnb. So if you own multiple properties, the one you want to Airbnb must be your primary residence or else it is not allowed. If you want to discuss further you can email, text or call me - my contact info is all in the description of this video. Thanks !

Hey Jay, that is a great question! Once you have multiple properties you become fairly limited with what you can do. My contact information is in the description of the video, you can email, text or call me and we can discuss your options further

That's a great question ! We'd need to consult a tax lawyer for this very specific case but my opinion on this would be - if the tenant is using the unit for Airbnb and it qualifies for an exemption, same as ownership, in terms of the unit being their "primary residence" and they've rented for less than half the year (50%) short-term rental - then when the seller goes to sell, there will be no HST on the sale. In Toronto, whether you're an owner or tenant, you must follow those rules. However if you're in another municipality or in cottage country where there is no limit, and your tenant is primarily using the unit to run an Airbnb - I believe you as the owner will be responsible for paying HST when you sell the property especially if the tenant was claiming that Short-term rental income - because the property will still be classified as "commercial", regardless if it was by you as the owner or not.

Hey! Great question. The recent tax change mostly impacts people who rent out their place full-time on Airbnb or own multiple Airbnb properties. In Toronto, you can only rent out your primary residence on Airbnb for up to 180 nights a year nightly. If you stick within that limit-meaning it’s your main home and you’re renting it out less than half the year (180 nights would technically be 49% of the year)-you won’t get hit with that extra 13% HST when you sell. Also, it’s worth mentioning that most cities outside of Toronto are adopting similar rules. So this really only impacts people doing Airbnb in places set up as full-time vacation rentals, like cottages for example. As long as you're not in those cottage areas and you're following the local rules of your city, in this case Toronto, you should be in the clear!

Thank you for sharing your thoughts! Pros and cons definitely weigh differently for everyone. What might be a big con for one person could be a minor issue for someone else, and vice versa. It all depends on what matters most to each individual! Thanks for sharing your perspective.

Hi Tania, you are allowed to Airbnb a rental property if it's your primary residence - it is permitted by the city of Toronto however of the buildings that allow STR, some of them require that you are the owner. So even though the city allows it, only some buildings allow it

Sorry it seems some of them do mention it on looking at a few more, my bad.

@@kylehigh2488 No worries ! You had me double checking as well when I read your comment. But yes 155 Yorkville does still allow it. I'd always just double check the status certificate to see it in writing before making any move. If you do want to chat further or have any other questions feel free to reach out at [email protected] and I'd be more than happy to help 😀

Hi! Email me at [email protected] and we can have a chat ! Thanks

Email me at [email protected] and I’ll send you the list of condos. Airbnb arbitrage is legal in Toronto but not worthwhile in my opinion. The unit must be your primary residence so even if you’re able to do it , you can only do it with your one unit. You’ll need a regular short term rental lisence same as if you owned the property.

Thanks So it’s not possible to run an arbitrage subletting multiple apartments in Toronto ?