How Airbnb renters are helping Canadians pay off their mortgage in a grey-market area

Financial Post

Owners are turning their extra bedroom, partitioned living room or entire homes into income properties, thanks to online marketplaces like Airbnb, which connect them to travellers who prefer cheaper and more personal lodgings than a hotel.

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Over half of the people that post on Airbnb are doing it “to pay off the mortgage, or for monthly expenses and day-to-day living,” says Aaron Zifkin, Airbnb’s country manager for Canada.

It’s a new source of income that Canadians are jumping on.

Allison and Brody, a couple who want to remain anonymous for tax reasons, own a townhouse in Ottawa that they bought at $185,000, for which they pay a $1,000 monthly mortgage. For the…

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