Would a short-term rental earn more than a lease?
Enter the nightly rate, how often it would be booked and the costs of hosting, then what a long-term tenant would pay. Check first that short-term rentals are allowed at the address.
Your estimate
What the calculator assumes.
Rules first. Many provinces and cities limit short-term rentals or require a licence. In British Columbia, most communities of 10,000 people or more allow short-term rentals only in the host’s principal residence plus one secondary suite. Source: Government of British Columbia. Check your city’s rules and your condo’s by-laws.
Taxes and insurance. Short-term rental income is taxable, and hosts can owe GST/HST once their revenue passes the small supplier threshold; some cities add an accommodation tax. Ask your insurer about short-term guests.
Method. A month is 365 ÷ 12 nights. Platform and management fees are shares of booking revenue; cleaning is charged per stay. Compare a lease in the rental ROI calculator.