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submitted 1 year ago by Grappling7155@lemmy.ca to c/canada@lemmy.ca

Fairbnb’s new co-op platform aims to offer short-term rentals without the destructive side effects by Kunal Chaudhary • The Breach

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[-] CanadaPlus@lemmy.sdf.org 3 points 1 year ago* (last edited 1 year ago)

Oh, okay, so the "empty houses in Vancouver" idea. Now, I'm also uninformed about the ins and outs of landlording, but it sounds like you make a decent amount being a slumlord with maximally many tenants, too.

I can, at least, attest that investments usually have their own economic logic, and there's no free lunch there either. If you want to make a lot of money from an investment, you either come in with a big sum of money to start with, or you need to get lottery-winner lucky. That's why I was a bit skeptical about that explanation from the start, and why the physical lack of supply explanation seems like the simplest one now.

[-] Grimpen@lemmy.ca 1 points 1 year ago

I think the "empty houses" isn't all or nothing. A house used for an AirBNB results in empty hotel rooms, and is "less full" than a rental that is rented for the whole month. Likewise a large house, with a single occupant is less full than an apartment building on the same land with even a 50% occupancy rate. This is the whole "missing middle density" comes in.

My impression is that developers would rather buy a bunch of land, throw up some upper scale housing, sell it, and move on. You are right that building an apartment building and renting it out is also a viable investment strategy, but it just seems that there are more developers selling houses than landlords building apartment buildings. Granted landlords kind of suck to, so condo's would be better I would think, but what do I know?

this post was submitted on 27 Oct 2023
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