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Airbnb operator says he's facing losses of hundreds of thousands of dollars because of new short-term rental laws (bc.ctvnews.ca)

submitted 10 months ago by [email protected] to c/[email protected]

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[–] [email protected] 36 points 10 months ago (1 children)

Nguyen says he makes enough by renting out his unit on Airbnb to cover its mortgage

Well it sounds like you shouldn't have done that.

[–] [email protected] 22 points 10 months ago* (last edited 10 months ago)

It's not even the right calculation he should be considering - a mortgage payment pays down interest and principal. Rent should only be expected to cover the interest portion of a mortgage - anything that covers principal is basically free money for the landlord. This guy is basically upset because he can't find a tenant who'll give him a free house fast enough. I have no sympathy.