Aug 08

How a Toronto Woman Pays Her Rent Via Airbnb

My wife told me this story: a friend of hers of modest means and of a certain age rents a terrific downtown Toronto apartment. It’s close to everything and it’s especially nice that it’s right next to their subway system, whose tagline is pretty good I must say, “It’s better than walking” even if it’s not true.

What amazed me was this: she pays her entire rent by renting out her 2nd bedroom via Airbnb.

If you are an elder who, like about 80% of Canadians, has no defined benefit pension plan and are struggling financially, you could do worse than rent out your spare room on Airbnb’s marvelous platform. Plus she gets to meet people from all over the world since Toronto is such a melting pot and a crossroads for an incredible 200 different nationalities. 

@ profbruce @ quantum_entity

postscript: I’ve also learned that her cruel landlord has put a stop to this–they’ve threatened to evict her if she continues. I have volunteered to help her with her lease renewal BTW. She will have to add that a) she is allowed to sublet (and license) up to 50% of her apartment without landlord approval, and b) keep 100% of the proceeds from this activity. She will, however, remain on the hook for the entire rent, which is fair anyway.

This is part of the establishment’s war on new economy options whether it is Airbnb or Uber or…

I also think the RTA, Residential Tenancy Act of Ontario, should be amended to allow not only roommates (some cities and towns prohibit roommates or restrict their number unnecessarily*) but Airbnb as well. 


* This was largely to prevent women from banding together in houses to become sex workers. Where such by-laws and ordinances were passed, they not only pushed sex workers onto dangerous streets, they put the kybosh on things like sorority houses. It’s the law of unintended consequences. 

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About the Author

Bruce is an entrepreneur/real estate broker/developer/coach/urban guru/keynote speaker/Sens founder/novelist/columnist/peerless husband/dad.