Short-term rentals can earn homeowners extra cash in Oakville, Burlington

If you’re looking to earn some money renting out your property, there’s money to be made in Oakville and Burlington.

But not as much as in Canada’s tourist hotspots, though.

A study conducted by financial advice website Money.ca calculated how much Canadian homeowners could earn by renting out their property on Airbnb.

Unsurprisingly, the most money could be made in Canada’s largest cities, including Vancouver, Toronto, Mississauga, Kelowna, Quebec City and Montreal.

“This study offers an insight into which cities are most lucrative for Canadians to list their properties on Airbnb,” said Kris Bruynson, vice-president of marketing and product at Money.ca.

“Canada’s largest and most populous provinces, Ontario, Quebec, and British Columbia, are also home to the most profitable cities for Airbnb hosts. Residents in these cities can conveniently earn extra income by listing their properties when they are going to be away.”

Communities were ranked by the average listing price of all properties. Oakville and Burlington sat right in the middle of the rankings, 24th and 25th.

In Oakville, the average one-bedroom listing was $125 per night. For two-bedrooms it was $166 per night, for three-bedrooms it was $228 per night and the overall average was $173 per night.

In Burlington, the average one-bedroom listing was $128 per night. For two-bedrooms it was $154 per night, for three-bedrooms it was $236 per night and the overall average was $173 per night.