Small serviced apartment operator

Companies, relocation and staffing agencies, film and construction crews, insurance claims teams and individual long-stay guests.

Nightly, weekly or monthly rates with corporate discounts. Revenue covers rent, furniture, cleaning, utilities, software and staff, so margins depend on keeping units booked.

• Managing suppliers, cleaners and a small team
• Negotiating with landlords and corporate clients
• Pricing and keeping track of bookings and costs

• Rent is due whether or not guests book, so check your finances can cover empty months before signing leases
• Get landlord permission in writing and check condo bylaws for each unit
• Municipal short-term rental rules and licences vary by city and province; Quebec has its own registration, so check each location
• Stays of a certain length may fall under provincial tenancy law, so check how it applies
• Commercial general liability and short-term rental insurance; WCB/WSIB coverage if you hire, with rules by province
• Collect and report GST/HST and any accommodation taxes, and check whether a corporation suits you better than a sole proprietorship

Startup costs are typically around $30,000 to $80,000 CAD, depending on how many apartments you lease, how you furnish them and the deposits and insurance you need. Rent is due whether or not guests book.

Check landlord permission in writing and condo bylaws for each unit, municipal short-term rental rules and licences, Quebec registration, and provincial tenancy law for longer stays. Also check insurance, WCB/WSIB if you hire, GST/HST and accommodation taxes.

Monthly revenue is typically estimated at around $10,000 to $40,000 CAD, depending on the number of apartments, nightly or monthly rates and how often they are booked. The estimates assume at least about 25 hours a week.