Is AirBnB a good idea?

What you need to know about AirBnB!

What is AirBnB?

Air BnB is the newest accommodation phenomena to hit the global market and offer an alternative option to hotel and hostel stays. In the AirBnB format, you can rent a shared space, a private room or an entire home and delve into the personal experience of really “living” in a new city or country like a local. It actually started with a guy renting out a room with an air mattress!!

Is AirBnB legal in Kelowna and West Kelowna?

The City of Kelowna has recently legalized AirBnB within the city, as long as you obtain a business license to operate your own business, and cooperate with the guidelines below.

The City of West Kelowna, however, has not adopted the same bylaw at this time, and therefore it remains illegal and a fine-able offense to AirBnB within city limits. (However that doesn’t mean people aren’t doing it J)

What type of dwelling can you AirBnB?

Within the City of Kelowna, should you choose to obtain a license and operate an Airbnb you are only permitted to operate your business within your principle residence, which means that you cannot AirBnB your legal suite or your carriage house and can be fined if you are caught doing so. A room within your own home is perfectly acceptable and can be a nice income booster over the hot summer vacation months!

Should I AirBnB?

            Now, the big question on a lot of people’s minds is more of an ethical or financial dilemma. “Should I jump into the short-term, vacation-rental business?”. The answer is, “it depends!”. It depends on several factors that you’ll have to answer for yourself:

  1. Do you like/ are you comfortable with strangers in your home?
  2. Do you have the time to manage bookings/cleanings/check-ins/outs etc?
  3. Do you need the rental income?
  4. Do you really WANT to AirBnB?

If you answered yes to at least 2 or 3 of these questions, then you’d be a fair candidate to consider trying it out. If you don’t like it, you can always just stop!

Hope this helps answer some of the FAQs around AirBnBs ~  if you have further questions, feel free to reach out to me, I would be happy to help!  My cell is (250)878-1920.

 

Anne Wolfe

Anne Wolfe

REALTOR®
CENTURY 21 Assurance Realty Ltd.
Contact Me

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