Rent a spare room, basement suite or cottage to travellers.
Time: Turnovers and messaging
Short-term renting can out-earn a long-term tenant 2–3x in tourist markets — but it's the most regulated hustle on this list. The winners treat it like hospitality: fast replies, spotless turnovers and a listing that photographs like a magazine. Because startup costs are real ($1,000–$2,000 to furnish properly), confirm your city's rules before spending a dollar.
Before anything, read your municipal short-term-rental rules and condo board bylaws. Toronto, Vancouver and Montréal all require registration; some zones ban it entirely.
Spend the $1,500 where cameras see: a great bed, black-out curtains, a statement lamp, good lighting. One full-day deep clean before shooting.
Shoot at midday with every light on, or hire a photographer ($150–$250). Listings with strong photos book at dramatically higher rates — this is the highest-ROI spend in hosting.
Airbnb first for volume, VRBO for longer family stays. Write the listing around the guest ('10 min walk to X') and set an introductory price 10–15% under comparable listings for your first 5 reviews.
Smart lock with rotating codes, auto-messages for check-in directions, and a cleaner booked for turnover days. Response time affects search ranking — automation keeps you fast.
Revenue minus fees, cleaning, supplies, utilities share and registration costs. If occupancy drops under ~60% in low season, adjust pricing or consider medium-term (furnished monthly) rentals.
Start listing; includes the resource centre with pricing and safety guides.
Second channel that skews to longer, family stays.
Example of municipal registration requirements — check your own city's page first.
Turnover-cleaning marketplace for hosts; or hire a local cleaner directly.
Rental income must be reported; some expenses are deductible.