Canada's Short-Term Rental Rules Save Renters $192.4 Million Monthly

How are short-term rental regulations impacting affordability in Canada? Researchers found that municipalities limiting principal-residence short-term rentals had significantly lower rents, estimating these rules saved Canadian renters $192.4 million monthly in 2023. In 309 regulated neighborhoods, monthly rents averaged $24 lower after one year compared to areas without regulations, demonstrating that local rules effectively support affordability. Over subsequent years, estimated savings increased to $55 per month in regulated neighborhoods and $40 in nearby unregulated areas, indicating that Canadian housing markets operate regionally. Future research will focus on improving measurement techniques, particularly distinguishing between occasional home sharing and commercial rental listings in Canada.

Understanding how local regulations influence rental prices can provide valuable insights for those interested in the Canadian housing market.

For expert insights on the Montreal real estate market, connect with Liana Michina, REALTOR® at Landmark Group Inc..