Subletting for PanAm

[ChrisJunck]

I was talking to my landlord recently and he tells me he is planning to make truckloads of money by renting out rooms to last minute renters during the PanAm this summer.
I was thinking of renting a 2 bedroom apartment and subletting 1 room this summer and potentially make half my annual rent or more. I know there would be legal issues but what exactly are they, could I be sued ?

 

[Wild Wiglin Willie]

Some jurisdictions require that you get a permit to run a rooming house.

 

[Aardvark154]

For a quick second I thought you were discussing^

 

[DanJ]

These aren't the Olympics. I wouldn't count on truckloads of cash. Good luck though.

 

[cdnsimon]

I was talking to my landlord recently and he tells me he is planning to make truckloads of money by renting out rooms to last minute renters during the PanAm this summer.
I was thinking of renting a 2 bedroom apartment and subletting 1 room this summer and potentially make half my annual rent or more. I know there would be legal issues but what exactly are they, could I be sued ?

You're not going to get athletes, coaches, or officials in the apartments or rooms (they have their own residences), nor would media be there (international media would be in hotels). You need to think about the location and the type of people that would be staying there and how long they'd want to be there.

The PanAm games is July 10-26, and ParaPan is August 7-15. How many regular sports fans would stay for 2 weeks? How many people in the stands will be local (live in Toronto or surrounding area) and not need to sublet? I think you'd be very lucky to have someone stay for a month for both games.

People aren't stupid to shell out thousands of dollars for accommodation either when there are hotels in Hamilton, Brampton, Mississauga, Markham, Oshawa, etc. that would probably offer more for less money (room cleaning, etc.).

 

[Celticman]

If the games are going to put a crush on accommodation, then this could lead to a disastrous shortages of hotel/motel incalls Of course, that could lead to another sublet opportunity

 

[thailover]

sadly the PanAms r going to be a huge bust,vacanacy will actually go up during that time because of the huge exodus out of the city to get away from the gongshow

 

[Jiffypop69]

If the games are going to put a crush on accommodation, then this could lead to a disastrous shortages of hotel/motel incalls Of course, that could lead to another sublet opportunity

In other words...subletting your place to SP's during the PA games since hotel rooms might be scarce.
I like the way you think Celtic.

 

[MattRoxx]

sadly the PanAms r going to be a huge bust,vacanacy will actually go up during that time because of the huge exodus out of the city to get away from the gongshow

Holy overreaction, Batman.

Events take place from Niagara Falls all the way up to Barrie. Why would anyone be chased out of their home by a few visitors to the city?! I don't remember a mass exodus during Pride Week when thousands of tourists rolled in last summer, nor when Caribana pulls in tens of thousands of visitors.

 

[DanJ]

Have you done any market research yet to see what the demand is for accommodation? Check the various hotel websites for those dates and see what comes up? I checked hilton.com for July 12 and not one hotel came up sold out. I saw price ranges of $84 near the airport to $331 downtown, which sound normal to me.

 

[fuji]

Have you done any market research yet to see what the demand is for accommodation? Check the various hotel websites for those dates and see what comes up? I checked hilton.com for July 12 and not one hotel came up sold out. I saw price ranges of $84 near the airport to $331 downtown, which sound normal to me.

Good data. I considered short term rental of my place in Toronto as well as I'm now working from the US and only in Toronto part time, but decided it would have been a PITA to clear everything personal/valuable out of the unit and probably not worth the effort. Looks like it will not be a big event!

I may reconsider if closing on a month there are crazy high prices getting booked through airbnb but from your numbers looks unlikely.