1731 replies to this topic

[Rob Randall]

^I'm not sure why they wouldn't let a management company handle the off-season. It seems like a weird way to deal with the income/hassle balance. Why carry the expenses of a vacant suite if it's just sitting empty not making you money?

[Victoria Watcher]

the off-season monthly revenue might only be 1/4 or 1/6 of what high season is.  like lots with human motivation it's hard to feel so passionately about working it with so relatively little money.

Edited by Victoria Watcher, 03 September 2020 - 12:44 PM.

[Mike K.]

^I'm not sure why they wouldn't let a management company handle the off-season. It seems like a weird way to deal with the income/hassle balance. Why carry the expenses of a vacant suite if it's just sitting empty not making you money?

 

As I said, all expenses are covered in the high season. The profit is in the unit appreciating in value over time, without the hassle of day-to-day management.

 

In addition to that, there's also the issue of wear and tear, there's also the issue of the unknown, and there's also the issue income tax implications.

[Rob Randall]

OK, the tax thing might make or break. Wear and tear, that's no biggie, that will happen regardless.

 

Make it a one week minimum stay. If no-one books, fine but if you get even a single booking it's five hundred easy bucks.

 

In for a penny, in for a pound I say.

[Mike K.]

C'mon, Wolf Blitzer, keep up!

 

What they’ll do is set the minimum stay at something like 2 or 4 weeks outside of their target listing window, and if there’s a bite there’s a bite, but they’re not interested in generating more revenue than the cost to carry the unit per annum.

 

[Victoria Watcher]

$234/night plus $90 cleaning fee.

 

 

 

 

East Sooke carpenter builds the ultimate tree fort

 

East Sooke Treehouse takes flight as an Airbnb

 

 

 

https://www.vicnews....mate-tree-fort/

Edited by Victoria Watcher, 17 April 2021 - 05:44 AM.

[Victoria Watcher]

3 Fully Furnished short-term rental Condos in downtown Victoria. Located in three towers all within minutes of each other and within walking distance to some of Victorias most iconic tourist destinations including the inner harbour, Parliament buildings, Beacon Hill Park, The Empress and downtown. These three well-maintained condos have provided great returns for the current owners in a mixture of both short- and longer-term tenants. All three are in concrete and steel buildings which are highly sought after in the downtown core. 4 parking spaces as well as over $60,000 in furniture included, providing turnkey vacation rentals. #506-707 COURTNEY STREET | The Falls| 2 bedroom | 2 bathrooms | 1098 sq ft | Sleeps 4 | 2 parking spaces # 603 - 708 BURDETT AVENUE | The Falls | 1 bedroom | 1 bathroom | 683 sq ft | Sleeps 2 | 1 parking space. #1002-751 FAIRFIELD RD | The Astoria | 1 bedroom & Den | 1 bathroom | 722 sq ft | Sleeps 4 | 1 parking space.

 

$1,960,000

 

https://www.realtor....ctoria-downtown

Edited by Victoria Watcher, 07 June 2021 - 12:41 PM.

[Rob Randall]

I have never heard of a Realtor offering three unconnected, unrelated properties for sale bundled together as a single deal.

[spanky123]

^ You could probably bring in $20K a month for the 3 units over the summer.

[Rob Randall]

^Not if two of the units are only 1 bed/bath.

[spanky123]

^Not if two of the units are only 1 bed/bath.

 

Easily $250 a night each. Probably $400 for the two bedroom. What hotel will get you a 1 or 2 bedroom for less?

Edited by spanky123, 07 June 2021 - 01:26 PM.

[lanforod]

Are short term rentals actually permitted in any of these buildings? 

[Victoria Watcher]

Are short term rentals actually permitted in any of these buildings? 

 

 

https://www.irawille...ondos-victoria/

 

 

 

Considering buying an Airbnb or VRBO rental property in Victoria BC? Check the zoning first to ensure you are allowed to operate one. The City of Victoria no longer allows new transient zoned buildings, but existing properties may be grand-fathered in if a short term rental was operating there prior to the zoning change. Here is a complete list of all the transient-zoned condo buildings that allow short term vacation rentals in Downtown Victoria for less than 30 days.

Edited by Victoria Watcher, 07 June 2021 - 01:35 PM.

[Szeven]

As the owner of an airbnb condo I can confirm you are lucky to get 135 a night in the summer for a 1 bed. The manager takes 20%. 1500 for a biz license, 1000+ in taxes, 2000 in strata. It's not a great gig

[spanky123]

As the owner of an airbnb condo I can confirm you are lucky to get 135 a night in the summer for a 1 bed. The manager takes 20%. 1500 for a biz license, 1000+ in taxes, 2000 in strata. It's not a great gig

 

Most of those fees are recoverable if you are pricing the room correctly. A quick check on Airbnb for some random dates in August shows 1 bedrooms right downtown for $200 - $250 a night and that is with the border closed. Once it opens prices will jump.

 

Even your $135 a night is far better than what you would get in rent for a month.

[Mike K.]

Nope. That ship has sailed.

[Victoria Watcher]

now that we are missing 600 hotel rooms prices should be up a bit.

[Mike K.]

We might be down 2,000 daily hotel visitors, though.

[spanky123]

For the most part Airbnb and hotels serve a different audience. If I am travelling with a family of 4 that is 2 hotel rooms in most cases.

Edited by spanky123, 07 June 2021 - 04:04 PM.

[Rob Randall]

Also adult couples travelling together. Like grandparents, friends, students. Being able to stay together and socialize and have meals together yet have the privacy of your own room is a benefit hotels can't match.