Key considerations when renting on Airbnb:
Income you earn is taxable as rental income per the 2007 Income Tax Act,
If there is private use of the property as well then consideration needs to be taken on how to apportion the costs you could deduct against the taxable income,
GST could be an issue if you earn more than $60,000 per annum in rents,
Have you obtained the necessary council requests to operate as a Airbnb Host?
Have you checked with your insurance provider that your cover is still valid if you are operating under Airbnb?
The AA Insurance have written ‘6 tips for Airbnb rentals’,
and Vero Insurance have written an article ‘Protect Yourself When Listing Your Home on Airbnb’
These are just some of the things to consider when operating on Airbnb?