New survey shows Canadians turning part of their homes into Airbnb units to cover their mortgage

Canadians are facing increasing house prices and debt are turning to short-term rentals to make some extra to meet at the end of the month, according to a new survey.

Altus Group, which provides real estate research, said its FIRM survey from the summer of 2016 found four per cent of all households had used a short-term rental accommodation service in the past year. The number rises to seven per cent for those with a mortgage.

“There has been a lot of speculation lately about potential investor involvement in short-term accommodation rental services like Airbnb,” said Altus in its release. “But focusing on households rather investors, how extensive is the practice of short-term rentals of space in principal residences?”