By Ali Larsen
This is my Airbnb in Calgary!!👇
I own a single family property that is Airbnb’d in Calgary by Chinook Mall. See below for some hard numbers of what we have been getting for it! Here are some pros and cons of running an Airbnb in our city:
Pros:
Strong Tourism Appeal:
Calgary & Area is a gateway to the Rocky Mountains and popular destinations like Banff and Jasper. The Calgary Stampede and other events also attract a lot of tourists, creating high demand for short-term rentals.
Income Potential:
If well-managed, Airbnbs can generate higher returns than traditional long-term rentals, especially during peak seasons and large events.
Flexibility:
You can use the property yourself when it’s not rented out, giving you flexibility if you need personal space or want to rent it out part-time.
Diverse Guest Profiles:
Calgary attracts various types of guests—business travelers, tourists, families—which can ensure a steady booking flow year-round.
Short-Term Commitment:
With Airbnb, you’re not locked into long-term leases with tenants, so you can adjust pricing, availability, and your rental model more freely.
Cons:
Setup Costs:
Our 3 bedroom, 1 office Airbnb cost us about $10k to outfit. That means the furnishings paid themselves off in just two months of renting on Airbnb.
Regulations and Licensing:
Calgary has specific regulations for short-term rentals, requiring hosts to obtain a business license and meet safety standards. Staying compliant can add extra costs and administrative tasks. **This is a huge pain in the A**. Ask us what we have done about these rules…
Seasonal Fluctuations:
Calgary’s tourism industry can be seasonal, with lower demand during the winter months (outside of major events), which could result in inconsistent income.
Wear and Tear:
Frequent guest turnover can lead to more wear and tear on your property compared to long-term rentals, potentially increasing maintenance costs.
Competition:
The market for Airbnb in Calgary can be competitive, especially in central or tourist-heavy areas, which could drive down prices and occupancy rates.
Management Time and Costs:
Managing an Airbnb involves guest communication, cleaning, and maintenance, which can be time-consuming. If you outsource property management, this can cut into your profits. We self-manage ours which saves us a ton of money, but it also takes some of our time. We did use a program called PriceLabs which I would HIGHLY recommend to anyone… it paid for itself on the first DAY of booking.
Conclusion
It’s important to weigh these factors and consider local market trends before deciding if Airbnb is the right option for you in Calgary.
Check out our earnings for our Airbnb in Fairview! Note that we also have a tenant in the basement who is paying $1,800 a month. 🙂 👇
