Ontario is a province in Canada with many rivers, lakes, islands, and other natural attractions. Here is one of the most famous waterfalls in the world – Niagara Falls. In the 19th century, this area became the center of the mining industry, and in the 20th century, the automotive industry began to develop here at a tremendous pace.
Today, Ontario is a place that is both one of the most economically developed regions in Canada and a mega-popular tourist destination. Millions of people come here from all over the world: from the USA, Mexico, Europe, Asia, and beyond. Ontario is one of the best places to start an Airbnb business.
The Best Cities in Ontario to Invest in Airbnb Real Estate
If you are planning to buy property in Ontario for short-term rental, you will probably wonder which cities are the best places for this purpose. Let’s talk about the TOP 5 cities for Airbnb business in this province.
Each of them will be characterized by such key indicators as the number of properties for short-term rental, occupancy, average daily rate (average annual price for one night), and revenue. It will help you plan your income and determine the payback period of your investment. We will also briefly describe what amenities are present in most houses in each city.
Prince Edward County
Prince Edward County is one of the most picturesque locations in Ontario. Its sandy coastline in summer attracts many tourists who want to relax on luxurious beaches, visit excellent restaurants and shops, feast on local delicacies and go on a boat ride.
In autumn and winter, people come here to visit wineries, walk in nature and have a quiet holiday away from big cities.
- Active Rentals: 1230
- Average Daily Rate (ADR): $310
- Occupancy Rate (OR): 67%
- Revenue: $4342
Most of the rentals here are three or two-bedroom holiday homes. Most houses have heating, internet, air conditioning, and parking. Pools and hot tubs are not very popular – they are only in 9% of houses.
Port Colborne is a picturesque town on the shores of Lake Erie. It became a fashionable resort at the end of the 19th century: wealthy Americans often came here for summer vacations.
Today it is a center of tourism, shipping, and culture. Every year, the Canal Days festival takes place here, where tourists can listen to international Canadian music, enjoy local food, and look at ships. On festival days, local guesthouses and B&Bs are packed to capacity, but Port Colborne is very popular at other times as well.
- Active Rentals: 271
- ADR: $256
- OR: 53%
- Revenue: $2809
Here the most popular objects for a vacation rental are houses with two or three bedrooms, parking, air conditioning, and a kitchen. Swimming pools are in 57% of the properties, which is a lot.
Peterborough is a city in Ontario on the banks of the Othonaby River. People come here to ride the city’s canals on pleasure boats, admire the locks and a huge fountain on Little Lake and visit a restaurant in Del Crary Park.
And art lovers will certainly be interested in visiting the canoe museum and art gallery. Tourists come here all year round, so buying a house in Peterborough can build a profitable Airbnb business.
- Active Rentals: 928
- ADR: $277
- OR: 63%
- Revenue: $3178
People often come to Peterborough for family vacations. That is why houses with three bedrooms, heating, air conditioning, parking, and internet are in demand.
Toronto is the largest city not only in the province of Ontario but throughout Canada. It is a huge metropolis where ancient mansions, ultra-modern skyscrapers, museums, chic bars, azure coastlines, and urban wonders coexist.
There is a place for everyone in this multicultural city. Therefore, various properties for rent are popular here: separate apartments in a shared house, Bed & Breakfast, hotels, guest houses, etc. So you should indeed find your target audience and will receive a stable income.
- Active Rentals: 9982
- ADR: $157
- OR: 78%
- Revenue: $1969
Most properties for rent are detached houses (69%), but private rooms are also rented out (30%). Most homes have parking, heating, air conditioning, and internet. Also, many people go to Toronto on business trips, so it’s a great idea to equip rooms for the needs of working people.
More about Airbnb management in Toronto read here.
Ottawa is the capital of Canada, which is located on the banks of the Ottawa River and belongs to the National Capital Region. Starting as a city of loggers, Ottawa today is where high technology, industry and culture are developing. People come here to look at the building of the Confederation, visit the neo-Romanesque church of St. Birgitta, take a walk in Major’s Hill Park and try local cuisine in cozy restaurants. And, of course, they book houses and apartments for these purposes. Real estate in Ottawa is an area where you really should invest.
- Active Rentals: 1596
- ADR: $121
- OR: 73%
- Revenue: $1646
In Ottawa, both houses and individual private rooms are rented out. Most hosts use Airbnb and rent out one or two-bedroom homes to guests. Almost all houses have internet, air conditioning, heating, and parking. But the pool and hot tub are a rarity.
Discover about Airbnb management service in Ottawa on https://masterhost.ca/airbnb-management-ottawa/.
Canada, and, in particular, Ontario, has many exciting places for tourists to visit. If you want to start your profitable Airbnb business, here is a great idea. Analyze all the factors, study the market situation, assess the strengths and weaknesses of competitors, draw up a portrait of your audience and start boldly!
Remember that all successful entrepreneurs were once at the beginning of their journey. So if you competently build your strategy as a business owner, optimize daily real estate management tasks, and be hospitable and friendly with guests, you are guaranteed success.