The World Cup Rental Trap: A Cautionary Tale for Homeowners As the FIFA World Cup approaches, many homeowners are tempted to rent out their properties to soccer starved tourists.
The promise of significant extra cash is enticing, especially in cities where short term rentals are already a lucrative business. However, experts warn that this get rich quick scheme may not be worth the effort.
Kelly Ho, a financial planner based in Vancouver, estimates that after accounting for taxes and expenses, short term rental income can leave homeowners with only 50% of their expected earnings – far from the $4,000 per month touted by Airbnb.