The best way to rent your property depends heavily on its unique characteristics. Let’s walk through a few scenarios to help guide your decision.
If your property overlooks the ocean or is in a popular tourist area, Airbnb might be your best option. While it does require more effort, it also offers the highest return on investment. The good news is, there are property management companies that specialize in running Airbnbs, so you don’t have to handle everything yourself.
If your home is located in a high-demand market with low vacancy and is attractive to professionals, consider renting to doctors, dentists, or surgeons. These tenants usually pay a premium and are low-risk.
For properties located close to a C-Train station or other transit hubs, Rent2One could be the best fit. It’s designed for locations where accessibility is a priority.
If your house is in the suburbs and not near major employers, transit, or universities, Rent2One may not be the right fit. In such cases, traditional family rentals might yield better long-term stability and returns—especially if the home is large and attractive.
Smaller units like one-bedroom condos typically don’t work well with Rent2One. Instead, consider Airbnb for short-term flexibility or traditional family rentals if the demand exists.
Take a close look at the unique features of your property. Your goal should be to match those traits with the market that offers the highest return with the least risk.
Let’s look at a real-life example—my cousin Brent’s case study. His property’s location and features made one rental model clearly more profitable than others. No single rental method works for every property.
If your oceanfront property is rented to a long-term tenant, especially under rental price caps, you might lose out financially. These homes often stay rented for decades with little increase in rental income.