Airbnb is a relatively new app that allows owners to provide alternatives to traditional hotels.
With Airbnb, a property owner can lease out their home for a specified amount of time, on a temporary basis, to keep the unit filled and increase income potential while they are away.
It is supposed to provide the traveller with an alternative to hotels at a lower rate and give the property owner a chance for supplemental income. However, what about the neighbors?
Condominiums are frequently used for Airbnb offerings, which means neighbors and other owners are affected by these short-term leases. With the increased traffic of strangers coming into the property day and night, residents may feel less secure in their property.
What A Condominium Corporation Can Do About Airbnb
While there are no regulations in place, condominium corporations have tools that can prevent the use of Airbnb leases on their property and they should consult with a condominium corporation lawyer to explore further options.
1. Set Rules About Short-Term Leases
If owners are leasing their properties, even on a short-term basis, a recent report from CBC News stated that condo boards could start posting signs and create laws regarding short-term rentals. The condo board can impose a minimum of three to six months for any lease of the property, which will reduce the likelihood the owner can use Airbnb in the first place.
2. Read Over The Declaration
There are often declarations in place for condominium owners that limit the use to single private families, or the condos are strictly for residential purposes. Using Airbnb constitutes a business transaction; therefore, owners using their units as rentals are violating the declaration.
According to Alan Rankine at the Bennet Jones Thought Network, condos can constitute any rental on Airbnb as commercial use.
3. Have A Condominium Corporation Lawyer Send A Cease And Desist
Once an owner has violated the terms or declaration, the condo board can have a cease and desist notice forwarded to the owner. According to Law Times News, if the owner does not comply, then the matter can then be settle through the legal process.
4. Increase Condo Special Assessments
Condo assessments are used to help repair the condominium complex. A board may be able to implement a higher assessment fee for those using their property for income purposes. This, however, will need to be done with the assistance of an expert lawyer.
Speak With a Condominium Corporation Lawyer Now
If your condominium is plagued with owners using Airbnb, you do have options. You will need to enlist the help of a real estate lawyer to exploit these options.
A lawyer can assist you with assessment condo liens, declaration violations, and take the case to court if need be.
For help with your Airbnb issue, contact Horlick, Levitt, Di Lella LLP now at 416-512-7440 or complete an online contact form.