Well-established motel business.13 rental units of which 6 are 2-bedrooms-with-kitchen units. Remaining 7 units are 1 bedroom with a half-kitchen. Extensive frontage on Swift Creek. Paved parking lot. Walking trail below motel next to creek.
Motel built around 1957. Generally long-term tenants, but very suitable for highway traffic. Easy access, easy to find. This motel offers a very reasonable opportunity for one to step into the motel business, with a perfect opportunity to expand and build the business. More information available.
Our team has developed an Airbnb comparison report that showcases property type, annual revenue, and the approximate real estate prices. Many aspects should affect your buying decisions and no single report or article will be able to answer all of the questions for you. If you have an interest in any specific Airbnb towns in BC, research the zoning bylaws and requirements so that you’re confident that you can legally operate a vacation rental.
We have complied this report in no particular order. The financial numbers of an Airbnb property are just one piece of the pie and should not be rated in priority simply because the numbers are higher. While we all want high earning properties, it is important that the property match your lifestyle requirements and be a natural extension to your real estate portfolio.
For many, many years, Tofino has been a gold jewel in Vancouver Island’s tourism industry. The community is a natural fit for Airbnb with its surfer community, ecotourism focused activities, and stunning westcoast architecture. Vancouver Island is usually a cheaper alternative to the mainland (Metro Vancouver), but Tofino is an exception. The real estate prices have soared in the last 5 – 10 years and is largely unaffordable for most families. The municipality has cracked down on the use of Airbnb and caused the community to have a very low supply of “Airbnb-able” properties. As a result, the properties that are allowed to act as short term rentals have increased in value.
The community is affected by logistical problems with operating a business on an island. While the BC ferries are usually very reliable, the cost is exorbitant especially if its a frequent trip with a vehicle. Once you dock at the Naniamo ferry terminal you still have a 3+ hour drive.
Due to the high cost of real estate properties and logistical issues with running an Airbnb in the surfer tow, we recommend staying clear for now. We frequently watch this market as it certainly intrigues us, but for now its not on the table.
As the #1 ski resort in North America, it comes as no surprise that Whistler is a leading Airbnb town in BC. The municipality is Airbnb friendly, so long as you follow the basic bylaws. The tourist destination receives global attention from the ski and biking community thanks to its endless bike trails and back-country terrain. The zoning can become quite complicated if you’re not familiar with the town, but in a nutshell, you want to look for commercially zoned, Phase II properties either in Creekside, or the Village.
Our Thoughts on Airbnb in Whistler
Since Lifty Life originated in Whistler, we will always have a soft spot for the resort. That being said, we recognize the real estate prices in Whistler have soared to never-before-seen prices. Whistler has huge revenue potential since the demand for accommodation is extremely high. Overall, we believe Whistler is slightly over-priced, but an excellent buy if you’re looking for a long-term holding.
As the third largest city in BC, Kelowna has a growing tourism destination. Known for wine and lake-side living, the community is bustling with outdoor activities. With 2,000,000 visitors a year and a local population of 150,000 the city has the infrastructure required to become one of Canada’s top tourist hot spots.
Our Thoughts on Airbnb in Kelowna
Airbnb’s in Kelowna have been around for quite some time. The last couple of years the municipality have created bylaws to restrict the short term rental market, but if you own commercially zoned property, you will likely be approved for a business license. Kelowna is affected by the empty homeowners tax, which taxes any vacation rental in the area at 1% of property value per year. So, with that, we recommend people be very confident with their numbers because that could make, or break, your investment.
Overall, we feel confident that Kelowna is poised to grow over the next ten years into a tourist powerhouse. So if you’re looking for a long-term investment, this could be the right market for you!
The economic capital of BC; Vancouver is known for its high real estate prices, celebrity spotting, and tourist economy. With recent laws, it is clear Airbnb is largely unwanted by both the municipal and provincial governments. The taxation and regulation faced by hosts in this market is an embarrassment on the national level. While the Airbnb revenues generated are consistent year round and in for the most part quite high, the prices of real estate make it unaffordable today.
Our Thoughts on Airbnb in Vancouver
With recent laws, it is clear Airbnb is largely unwanted by both the municipal and provincial governments. The taxation and regulation faced by hosts in this market is an embarrassment on the national level. While the Airbnb revenues generated are consistent year round and, for the most part, quite high the prices of real estate make it unaffordable today. This market is affected by the homeowners tax, which was the provincial governments attempt to resolve the housing crisis by charging a 1% tax on the property value per year.
As the second largest ski resort in BC, Sun Peaks is a very unrated Airbnb town in BC. In fact, National Geographic announced Sun Peaks among the top 10 winter destinations in 2019. Many people compare Sun Peaks to a quieter and more humble Whistler. The terrain is top-notch, the restaurants and bars have a great après filled with high-energy skiers. Sun Peaks Resort is within the four hour window most ski enthusiasts are willing to drive from Vancouver and Kelowna.
Our Thoughts on Airbnb in Sun Peaks
Strictly comparing annual revenue to property value Sun Peaks might be the best bang for your buck. The ski resort has a very strong winter season, but seriously disappoints the rest of the year. If the ski resort has bad snowfall one year the revenue could be wiped out pretty quickly. The resort is pushing to develop its summer season, but has struggled to demand high rates. Overall, Sun Peaks is a good buy, if you can handle the risk of 1 or 2 bad snow years every once in a while. Alternatively, if you’re more of a summer person, this could be a great buy. Rent the property out in the winter and use it frequently in the summer; win-win!
Cultus Lake is one of Vancouver’s favorite lake-town communities. Just an easy two hour commute from Vancouver you will arrive in a high-energy party town. With thousands of recreational properties, amusement parks, and water sports galore; this town was born to be a tourist attraction.
Our Thoughts on Airbnb in Cultus Lake
If you’re looking to purchase an affordable recreational property within a couple of hours of Vancouver then Cultus Lake is a must see! The community lacks apartment style accommodation, although recent developers have started to resolve this issue, but there are plenty of cabin’s available. The nightly rates vary significantly based on the property, but generally, $25,000 – $40,000 per year is possible. The town is very slow during the winter months since it is largely a summer destination.
One major thing to note is that most of the properties are “leasehold”, which means you’re effectively leasing the property from someone and do not own the land. This makes financing a bit more difficult since most banks want to secure the loans with the land. That being said, the prices are generally lower then other lake communities to compensate for the leasehold arrangement. New developments on the south end of the lake are being sold as “freehold” properties which is the conventional property type.
nvestment opportunity potential gross income of $96,000 / year. Property is located in Prince George near everything that the neighbourhood has to offer.
The building has 9 residential units (8 bachelor and 1 two bedroom) and 2 retail spaces on the front ground level. The property was recently renovated (2016) with new electrical, plumbing and fire safety system. Structural, mechanical and electrical plans available. Property management services available to the potential buyer. Live-in caretaker.
Western Canada has the highest rate of recreational vehicle (RV) ownership in Canada, at 68 per cent of those who camp, according to the 2018 North American Camping Report. Of the 9.1 million Canadian households who go camping, the majority opt to rough it in an RV, a ratio that approaches three out of four in B.C. and Alberta.
Today the average size of an RV on western roads is 40 feet long and 13 feet wide – twice the size of such vehicles two decades ago – and they are often rigged out with furnishings, TVs and complete kitchens.
The problem is where to park for the average 4.5 annual camping trips that owners use them. While there are public campgrounds, about 25 per cent of owners wheel into privately owned campsites, and this is where recreational real estate investors can make money.
“The big problem is that the RV units are getting better, made with more conveniences and there are great finance plans to purchase. Lots of units are being sold every day,” said Rudy Nielsen, president of the Niho Group, which includes LandQuest Realty that has been involved in selling B.C. recreational land for decades. “So you might have a unit but unless you book well into advance a place at a private or government campsite in summer you have nowhere to go.”
This year another demand element has been added to the equation: work on natural gas and oil pipelines in B.C. and Alberta that attracts mobile contractors who need inexpensive lodging. A campground in northern B.C., the Cariboo or in northwest Alberta converted to RV sites could prove a profitable play, according to real estate agents who work in this niche market.
Based on Western Investor research, however, the real market is in southern B.C., where the camping season is longer, and the province tends to attract RVers from across Canada and from the U.S.
If you plan on converting a parcel of land for RVs, the camp must be capable of offering or upgrading to sewage stations, 30-to-50-amp power outlets, water hookups, and often Wi-Fi services and even pools or clubhouses to attract visitors.
There are few listings for existing RV campgrounds, and investors have to be careful in the choice of location and the amenities.
An example of an existing RV campground for sale is the Dominic Lake Resort, a short drive from Kamloops in the Thompson-Okanagan region. Owner Al Pike said the property is profitable; his family simply wants to move on.
Dominic Lake Resort is nearly 10 acres on the 90-acre lake and includes 26 RV sites, a lodge and two cabins. The RV sites are fully leased at annual rates that range from $2,100 for inland sites to $3,000 for lakefront parcels. There are only three RV sites per acre, which suggests more could be added. The resort is listed by Michele Cummins of Re/Max at $850,000, which is about the price of a two-bedroom condo in Vancouver.
Re/Max Sabre Realty has an RV campground riverfront parcel between Creston and Cranbrook. This development, which began in 2010, has 126 RV and cabin lots, of which 44 have been sold by the way of shares in a limited company. Each lot sold for around $40,000 and there are 82 lots remaining, of which 32 are on the waterfront. This package is listed at $1.66 million by Sabre agent Larry Berisoff, who notes that RV parks have a singular advantage over manufactured home parks: they are not subject to provincial rental regulations.
A riverfront RV development site near Creston covers 45 acres with 126 RV lots that are sold, not leased. It is priced at $1.6 million. | Re/max Sabre Realty
In Alberta, there is an RV park for sale on a 118-acre site that includes serviced lots. Located along the Red Deer River in Settler County, it includes a laundry, mini-golf course and family amenities and is priced at $2.2 million by Salomons Commercial.
Like any commercial real estate investment, an RV campground requires due diligence on the part of the buyer, notes appraiser Trevor Hanson of Soderquist Appraisals Ltd. of Red Deer. Hanson said that, because there are so few sales each year and properties often have a variety of set-ups, it is difficult to assess true market value. At a minimum, buyers should check that the financials support the payments and maintenance costs and provide a livable income in what is really a seasonal business.
68-room motel with 11 two-storey townhouse rental units located on the main highway. There are 3 buildings plus a full-service 69-seat restaurant. The building has a full basement for storage, mechanical, electrical, workshop and staff use. There is also an office adjacent to the 2-bedroom manger's suite. There is a pool and a hot tub on the premises as well.
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