Trish Bongard Godfrey

Does Your Home Pay for Itself? This Home's Airbnb Pad Generates $3000/Month

22 April 2016
Trish Bongard Godfrey

It’s hard to argue with the benefits of an income generating basement apartment. Even the most modest accommodations can help offset a mortgage. But tenants come with risks. The bad ones can make your life a nightmare, and even the good ones can, well, just get in the way.

Homeowners Kristen Thompson and Dylan Tomlin came up with a solution that adds massive value to the house they are selling. When they first purchased their two bedroom brick bungalow in Toronto’s hip east beaches neighbourhood, they enlisted an architect to design a revenue producing basement apartment. But after their last tenant trashed the contents and absconded with most of the merchandise, they decided to try airbnb. They’ve never looked back.

In summer, this little apartment can generate up to $3000 a month in revenue. In winter, it’s closer to $1500, but the empty days allow for family and friends to come for visits, as well as offering extra space to curl up and watch TV or where kids can make a mess.

A huge bonus for the potential buyer: the couple is writing a “How To” manual for the next owner, including in it all the tips and tricks they’ve learned by trial and error about running an Airbnb suite. They’re even offering to sell the contents turnkey, with everything from maps and brochures to furniture included, allowing the new owners to start their own Airbnb business from day one.

So in addition to a charming well priced starter – or maybe even forever- home, this purchase may even pay for itself! Stay tuned on offer night to see how much value this unique package adds to the bottom line. Here are some photos of the upstairs main living area:

Upstairs dining room, part of the home owners space

Upstairs living room, part of the home owners space

Upstairs bedroom, part of the home owners space

MLS: E3469272 – 30 Glenside Ave, Toronto listed at $678,000, see full listing details or contact listing agent Katie Aeby.

About Airbnb

Founded in August of 2008 and based in San Francisco, California, Airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world — online or from a mobile phone or tablet.

Whether an apartment for a night, a castle for a week, or a villa for a month, Airbnb connects people to unique travel experiences, at any price point, in more than 34,000 cities and 191 countries. And with world-class customer service and a growing community of users, Airbnb is the easiest way for people to monetize their extra space and showcase it to an audience of millions.