Montreal Condos that allows AirBnB and short term rentals
Like any big cities, Montreal is starting to have legal and tax rules on short terme rental like AirBnB. Big question for every condo investor is to be able to make money with their unit without having to deal with the condo board or the neighboor that complains about it.
A lot of Montreal’s available rental housing comes from private home owners listing their units. While the new legislation is likely to adopt rules about taxations I personally think the legislation will still allow short term rental in the city.
So which condo project allows AirBnB and short term rental in Montreal?
Not that many, actually only one condo project allows it officially. Others condos in Montreal are more “flexible” or “easier” to rent your unit without being seen since there are probably no concierge, no security camera or no neighbour that complains.
If you live in Montreal, you probably know which condo project allows it but if you are a non resident or foreign investor, the only one condo project that allows legally AirBnB and short term rental is the Tour des Canadiens.
As of March 27th, the phase 1 still allows it and I even have some clients that rent between 5 to 10 units as short term rental. The phase 2 is “sold out” and now under construction.
So if you want to take your chance to have your short term rental condo and get the best price, the phase 3 just started to sell a few weeks ago. If you are an experience condo investors, you should know that the best pricing and choices of floor plans is at the beginning of the sales process.
Phase 3 of Tour des des Canadiens is:
- Part of a 2B investment with the Quad Windsor project
- 55 storeys
- 567 condo units
- 1 to 3 bedrooms + stunning Penthouse
- Still located at Lucien L’Allier subway station and the Bell Center
- Short term rental will be allowed which is the biggest incentive for condos investors
- Parking only allowed to purchaser of 2 bedroom +
Short term rental is not only the main strength in this project, it will be located into a AA location, near:
- Entertainment culture, sport and bars with the Bell Center
- Shopping and dining area at Ste Catherine Street
- Green space with the the future new 2 acre park in the city, yes green space in the city
- Job and workspace area with the Tour Deloitte and new Quad Windsor tower
- Transportation with Windsor station and Lucien L’allier subway station
If you hear location, location and location. Tour des Canadiens 3 is the project to invest in 2018. It is a mix of long term investment and ability to be positive cash-flow with short term rentals.
The bad and good news
To be honest, Phase 3 also sold really well in the last few weeks and if one of your strategy is to add a short term rental condo in your portfolio, you should contact me to secure your unit as soon as possible.
I’ve had personal experience with renting one of my property at AirBnB in the past and it was very lucrative. If you ever consider doing it or investing without having the headache to manage it, please consult us to discuss as well.