September 2017
New Report Suggests Airbnb Influences Housing Supply

2017-09-28 8:39:34 AM


A new study, released by academics at McGill University, argues that Airbnb is increasingly playing a role in limited housing supply in Canada. The report, which studied the impact of Airbnb on housing supply in Montreal, Toronto, and Vancouver over the past year, found that the so-called sharing economy platform was responsible for slashing roughly 14,000 rental units. According to the report, 

"...there are significant economic pressures threatening further conversions of long-term rentals to de-facto Airbnb hotels in a number of more affordable areas—particularly those lying on mass transit lines. In the last year, conversions to short-term rentals have outpaced new home construction in a number of neighbourhoods."

The authors argue that municipalities (especially cities) should regulate short-term rentals according to three simple principles: (1) one host, one rental (2) no full-time, entire-home rentals (3) the platform is responsible for enforcement. 

Read the full report here


 


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