It’s no secret that many of us from the province flock South in the winter and enjoy sunnier and warmer days. Some do so for as long as 6 months. Should you plan for a Floridian Christmas and a palm tree escape for the course of the next few weeks or months, it may have also crossed your mind to go the route of a short-term rental or an AIRBNB option of your home. If this all too new to you, here are a few things to consider.
SELECT WISELY
Better to use a legitimate website or service with screening capabilities in order to secure qualified renters. Depending on city and building by-laws, AIRBNB can be an option for you. Check comments, remarks, etc. This option often poses different groups at various times to enter your in and out of your home, which can be stressful. Should you go for a longer lease than doing very short leasing increments, definitely ask your realtor to make sure potential renters provide the following: employment letter, letter of previous landlord, Equifax report & po tenant insurance. Working with a realtor can help filter through the selection process. You have more visibility on who you are allowing into your home.
CHOOSE YOUR POSSE
If you trust thy neighbor – use thy neighbor! Ask a neighbor to check on your home every so often. Have a handyman on standby in the area should anything happen and need attention. Have a cleaning company on speed-dial and perhaps cut your family and friends in on the action.
By being on AIRBNB, guests look for an experience as well. Having certain things prepped as paid guests arrive in your home can help your status online. Have your posse ready and willing!
PREPARE THE PRODUCT
Equip your home for rent. Don’t leave valuables behind, winterize your home and make sure things are properly functioning. You can also install new technology systems such as a home flood detection system (which has saved many from disastrous outcomes!). Have an alarm code specifically set for each guest or for your tenants so you can identify who exactly is entering your home. You can also swap linens and towels for sets that are only used for those who are renting.
Before you decide which path to take, make sure what your municipality’s by-laws are on short-term rental scenarios (AIRBNB-style renting). For anything under 31 days, Montréal requires homeowners to have a permit and possibly pay a hotel tax. Be advised first and should you go down the route of having one sole tenant for a number of months, please enlist the help of a realtor to help you with process so that you remain stress free!
