Ontario is truly a beautiful place to explore, and with the rise of Airbnb, it has become much more accessible. Airbnbs can also be highly profitable and relatively passive income. Many people are looking to invest in a property that can be rented as an Airbnb or considering turning their current home into a rental property. Here are some of the best places in Southern Ontario to purchase an Airbnb!
It's no secret that Toronto is the epicentre of Southern Ontario. With restaurants, shopping, and endless possible activities, guests tend to flock to Toronto for the experience. They also likely won't mind staying in an apartment or condo because they will most likely be looking for a place to crash between excursions. Toronto also hosts many people travelling for business, so while upscale properties are certainly a bonus, many Airbnbs that are clean with necessities can still turn a fair profit. With transit very accessible, having an Airbnb with parking is often unnecessary (though possibly a bonus).
It's effortless to fall in love with Midland, Ontario. This charming little town has such a quaint, small-town feel, nestled on Georgian Bay. With beautiful parks, golf courses and the beautiful Midland Harbour, this Simcoe County gem is perfect for tourists looking to enjoy the slower, lakeside living with a dash of adventure. Airbnb guests from the city or beyond can enjoy a mini getaway while enjoying all that Ontario has to offer.
The perfect location for end-east city-dwellers to make a quick escape from the city will lead them to Georgina. With dozens of beaches to explore, Georgina is known for its cottage feel without having to drive further north to enjoy lakeside living. Located right on Lake Simcoe, Georgina is a very popular location for tourists looking for water sports summer activities but also for winter sports activities. With many groomed trails for hiking and snowmobiling and plenty of ice fishing opportunities, Georgina is a great place to set up a successful Airbnb for some passive income.
Taking it back over to the west end of Southern Ontario, Collingwood is famous around Southern Ontario for its proximity to the Blue Mountain resort. Skiing, snowboarding, hiking, and motorsports, this area has access to all of the joys of Canadian living, which would naturally make it a great place to host an Airbnb. There are also plenty of local businesses and boutiques to explore and restaurants to enjoy nearby. This is another location that will host national or international tourists but also people living closer to the city looking for a weekend getaway spot to rest their heads after a day of fun local excursions.
Wasaga Beach is popular among locals and tourists looking for a relaxing and adventurous vacation by the lake. Weekenders who flock to Wasaga Beach may be looking for an alternative to staying in a hotel room and prefer the flexibility of renting an Airbnb. Wasaga Beach has plenty of cottages and waterfront properties, so this would be a massive bonus for a profitable rental, however, a location that is a short distance from the beach will still garner interest from tourists looking for a place to crash between beach days.
Marketing is key: Make sure that you have excellent photos taken of your property and spend extra time crafting great descriptions of your property and the services. First impressions matter and a very attractive listing is the best way to set up bookings.
Guest experience: Having an excellent listing is one thing, but you must also deliver on your promises to create happy guests. Always consider the guest experience when making your decisions. Imagine if you were a guest staying at that location. What information might they need about the local area?
It's all in the details: Little ways where you can go above and beyond will keep your guests returning again and again. Some hosts provide welcome packages, stock the fridges with coffee and tea, and have board games and other fun rainy-day activities available. You can get creative with fun ways to enhance the guest experience.
If you are shopping for a great investment to turn into an Airbnb, let your Professional, Loving, Local Realtor® know your purchase intentions. They will give you the Professional Guidance you need to choose both a location and home that will be perfectly suited to your needs.
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