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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 1 year ago by RehRomano@lemmy.ca to c/vancouver@lemmy.ca

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[–] FfaerieOxide@kbin.social 8 points 1 year 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.

[–] festus@lemmy.ca 12 points 1 year ago* (last edited 1 year 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.