British Columbia

Canadians looking to Airbnb their cabins and cottages more than ever

RE/MAX says part of what’s driving the trend could be millennial buyers who are starting to enter the cabin and cottage market.

RE/MAX says millennials entering recreational property market could be creating a trend

A report suggests people who buy cabins aren’t just using them for relaxing getaways from the city — increasingly, they’re starting to rent them out through Airbnb and other sites.

A new survey from RE/MAX suggests people who buy cabins aren't just using them for relaxing getaways from the city — increasingly, they're starting to rent them out through Airbnb and other sites.

RE/MAX's 2016 Recreational Property Report looked at recreation real estate across Canada and found 60 percent of respondents found it easier to rent out property thanks to websites like Airbnb.

Part of what's driving that could be millennial buyers who are starting to enter the cabin and cottage market.

"Affordability is a big issue with the millennial generation: they're young, starting out, but want to enjoy great lifestyle," Elton Ash with RE/MAX Western Canada told On The Coast guest host Gloria Macarenko.

"So to look at the opportunity to rent out this vacation property through Airbnb or VRBO or TripAdvisor, a few of the sites, and supplement or earn some income to pay those costs … it's certainly a growing trend."

Ash says baby boomers are still fuelling the demand for cottages in many parts of the province with 53 percent of surveyed regions in Canada seeing increased demand from retired and near-retired people.

"Baby boomers have been buying recreational property for quite a number of years for many reasons," he said. "Specifically, legacy, so they can leave something for their children and grandchildren."

Another driver is the low Canadian dollar, which is encouraging Americans to buy property in Canada and Canadians to keep their money in the country.

With files from CBC Radio One's On The Coast


To hear the full story, click the audio labelled: Cabin and cottage owners turning to Airbnb et al. more than ever: survey

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