The Home Tribe Real Estate Blog

So, you’ve made the decision to move to Edmonton—or maybe you’re already a Yegger and just looking to switch things up. Either way, that’s great! We’re here to help you find the right Edmonton neighbourhood for you. Follow along to see what we think the best neighbourhoods in Edmonton for 20-somethings (or beyond) are. And don’t worry, we’ll ensure our choices are activity and budget friendly.

Oliver

For those already living in Edmonton, Oliver is an obvious spot. Located a short walk away from MacEwan University, several grocery stores and various restaurants and pubs, Oliver is a highly desired area in our city. Though it’s only a 10-20-minute talk to the Downtown core, Oliver is filled with towering trees, beautiful parks, and even a large community garden. And if you are planning on having a family, Oliver is home to several day cares, Oliver Elementary School and even has a public swimming pool—perfect for hot summer days! Explore all Oliver Homes for sale here. 

Ottewell

An up-and-coming neighbourhood, Ottewell is a large residential neighbourhood located East-central Edmonton. It’s a short bus ride to the University of Alberta and is filled with parks, long streets (perfect for the avid runner), and even an outdoor skating rink. Not to mention—Anvil Coffee House is a neighbourhood favourite. If you’re looking to purchase your first home, Ottewell is filled with perfect starter bungalows at an affordable cost. Discover all Ottewell Homes for sale here.

Downtown

Depending on your interests, the obvious location of Downtown Edmonton might be perfect for you. In non-pandemic times, Downtown is the hustling and bustling centre of our city, filled with many local eats (like Rosewood Foods and Tiffin), cocktails around every corner (shoutout to The Bower and Woodwork) and is home to Churchill Square—where most of Edmonton’s iconic summer festivals are held. So, if you’re working in one of the Downtown towers and are child-free, you’ll likely love Downtown. Though rent and mortgages tend to be higher, you’ll save a lot of money on transportation and parking if you simply set up fort in the core. Explore all Downtown Edmonton homes for sale. 

Summerside

We understand that not all 20-somethings want to be close to the downtown core. Sometimes we just want an affordable home in a beautiful neighbourhood! In Summerside, you’ll get exactly that. Filled with all the essentials, you’ll never have to leave Summerside. In this newer Edmonton neighbourhood, you’ll find large homes, walkable paths, and both chain & local restaurants. And what’s more, you’ll even find Lake Summerside—a 13-hectare and 28-foot-deep lake where you can swim, fish and even go to unique workshops at! Discover all Summerside Homes for sale.

Ritchie

Ritchie is known for being home to a variety of demographics—the long-time homeowners, the roommates and the young families. With a strong sense of community, you can’t go wrong with choosing a home in Ritchie. If you want to support local, you won’t have any troubles doing that in Ritchie as it’s home to favourites like Farrow, ACE Coffee, La Boule and Maven and Grace. And as an added bonus, this eclectic neighbourhood also has three parks and lots of family-friendly activities within a short reach. Explore all Ritchie Homes for sale. 

Woodcroft

And for our final recommendation, we’re bringing you Woodcroft. Woodcroft is the perfect mix of homey residential, heritage and convenience. A neighbourhood built in the 1950s, you’ll find lived-in homes, a roomy park and an abundance of furry friends. And if you’re looking to stay long-term, this neighbourhood is home to Woodcroft Primary School and Ross Shepherd High School. Be sure to check out all Woodcroft homes for sale. 

So, have we convinced you to call Edmonton home yet? The list of incredible Edmonton neighbourhoods doesn’t end here, and we’re happy to talk more with you to find out what area of our city best suites you and your lifestyle. Contact us today to chat about your Edmonton real estate needs.

One of Central Edmonton’s best kept secrets, Trinity Pointe offers so much more than your average condo.

Concrete Building

One of the biggest differences between types of condos is construction, specifically having the choice between wood frame or concrete structures. Concrete condos are the preferred choice in most measures since they are sturdy and solid. The noise transfer between units will be far less than a wood frame building giving owners a little more privacy and quiet. Though concrete condos require their own type of maintenance, it’s typically needed less often than a wood frame building and can withstand much more when it comes to the elements, so when thinking long term, concrete is the way to go. Concrete condos also often have a better green rating thanks to their efficiency and durability.

Pet Friendly

Sometimes finding a condo that you can love that allows your furry companion too can be a challenge. This building offers it’s owners relaxed pet restrictions making it easier for you and your family to settle in!

Accessibility

Often overlooked, most buyers are searching in Strathcona and Ritchie. Nestled between the two, this Bonnie Doon condo is perched above Mill Creek Ravine. Allowing quick access to Whyte Avenue, U or A, Ritchie Market, French Quarter, Millcreek Pool, Bonnie Doon Mall, and so much more!

VIEWS!

You would not know it from the street, but this condo offers some of the best views in Edmonton. Where can you find a forest facing condo in Central Edmonton? Trinity Pointe! Enjoy the calm, peaceful nature of  Mill Creek Ravine right from your own private balcony.

Fitness

Tired of paying a costly gym membership? Cancel it and move into Trinity Pointe which offers an amazing fitness room and gym. In the warmer months you can also take advantage of the trail network right outside your door.

“Stellar” Management!

This building is managed by an active board and Stellar Condo Management. A healthy reserve and an incredibly proactive approach to maintenance means a safer investment for you.

We simply can not say enough about Trinity Pointe; however there is one more benefit – you can move into this building immediately. Take a look at the Edmonton Condos for Sale in Trinity Pointe today!

Hello YEG!

All of us at TruHome love our pets and each of us has made choices in regards to our living environments that would be good for our pets and ourselves. For example, I (Caitlin) chose to live in a house over a condo so that my lovely fur-bears can enjoy a doggy door and yard, while my sister (Elisse) knew right away that a condo would be better for her family, including her little dog. 

In retrospect, when I re-consider my lifestyle, I do feel an Edmonton condo would have also worked really well for me and my two bubbly schnauzers. Unfortunately, before I became an Edmonton REALTOR®, I didn’t realize all the amazing Edmonton condo choices that do exist for people like myself and my dogs.

The reality is that there are plenty of options when it comes to living the Edmonton lifestyle while loving and living with your pets. I wanted to share a few of my favourites to get you started on exploring the real possibilities you can consider:

 The Valhalla Located In Oliver

The Valhalla is the ultimate in pet-friendly living in the core. Not only do they allow pets, but they are also one of the most flexible when it comes to the overall size of your dog. Great Dane? No Problem! Your lovable fur baby is welcome here. With sprawling views of the river valley and downtown, a large indoor pool and an incredible gym – this condo provides it all in location and lifestyle. Want to learn even more about The Valhalla, be sure to read about the 10 Things You May Not Know About The Valhalla. 

The View Overlooking Riverdale

Nestled at the top of the hill in picturesque Riverdale, this Edmonton condo lives up to its name. Enjoy some of the best views in Edmonton surrounded by river valley walking trails. Not to mention, it is located only five minutes away from Edmonton’s downtown core. The building has reasonable pet restrictions, massive floor plans, ensuite laundry, underground parking and lower condo fees, making it a great option not to be overlooked!

Cherry Brook Court Situated in Oliver

This condo is situated in a prime location in the heart of Oliver. Only one block away from Jasper Avenue and close to every desirable amenity including a great pet food store, Global Pet Foods. With tree-lined streets, multiple parks and a network of walking paths, Cherry Brook Court is perfect for the young urban professional or first time home buyer. Accepting cats or dogs – all are welcome in this amazing condo!

The River Grande in Riverdale

Named “Edmonton’s Garden”, Riverdale is a premiere community hugged by the curve of the North Saskatchewan, surrounded by walking trails and home to one of the best off-leash dog parks in the entire city, the Dawson off-leash park which is less than a five-minute walk from the building. Large balconies, friendly 18+ neighbours and amazing floor plans make The River Grande a top choice for any dog parent! 

Morris Lofts in Downtown

Situated in the best location in downtown YEG, this exclusive loft building welcomes your pets. Residents love the generous floor plans, well-managed board and underground parking. What more could you want for your furry friends? Your steps away from Work Nicer (a fantastic co-working space), TEC Edmonton, 104th Street, Start-up Edmonton and the Ice District. 

Trinity Pointe in Bonnie Doon

One of Edmonton’s best kept secrets facing Mill Creek Ravine, this steel and concrete building is well-constructed and sound-proof. Connected to the ravine and trail networks, this building is ideal for pet owners all around. You will want for no amenity living near Whyte Avenue, Bonnie Doon mall, and downtown if you choose this as your next home! Not to mention with the expansion of the LRT network and its hub will bring even more exciting news to the area.

Want to discover more pet-friendly buildings in Edmonton? Our Edmonton Real Estate team would be thrilled to find the ideal home for you and your furry friend. Let us share our expertise to help you on your way!

Your TruHome Advisor,

Caitlin Heine

When Caitlin Heine isn’t out and about helping buyers and sellers navigate the Edmonton Real Estate market, you’ll often catch her out enjoying Edmonton’s beautiful river valley with her two schnauzers, Lumi & Hilli.

We often hear people brag about the loft space in their designer home or their loft-style condo, but with only 200 true converted industrial lofts in Edmonton, those who own them belong to an exclusive club with a lineup of buyers hoping to get in. 

At the heart of the core surrounded by every possible amenity, endless entertainment and downtown nightlife, YEG’s converted industrial lofts are an excellent choice for today’s urban singles and power couples. These properties are well-built and efficient with a minimalist aesthetic. Not only are they smart real estate investments, but they come with a coveted lifestyle inside a rare piece of Edmonton history. 

True converted Edmonton industrial lofts represent just 2% of residential properties in the core and only 6% of those have been listed/sold within the past year. Which means to get into the 200-Loft Club you need an Edmonton real estate advisor with the expertise to help negotiate your membership. That’s where I and the TruHome Real Estate Team come in. 

The TruHome team started researching Edmonton’s lofts because we are passionate about our local history when it pertains to how Edmonton became the city it is today.

Did you know Philips Lofts used to be a storage warehouse with a 20-foot arcade?

Or that Cobogo Lofts is built on the foundation of the Ker Building which burned down in 1913? 

Our team and myself personally, appreciate the uniqueness of loft living and have dedicated time and energy to specialize in these types of properties, we are well connected with current Edmonton loft owners and building managers. If you don’t see what you are looking for on the Edmonton MLS® System, get in touch, as often we have our beat on the pulse and can keep you informed of “not yet on the market” opportunities.

So let me help you jump the lineup into the 200 Loft Club and close the deal on your new life in the core. 

Michael van Butselaar

Your, TruHome Advisor

Michael van Butselaar, your TruHome Real Estate Advisor of RE/MAX Real Estate has a keen eye for finding the unique properties right for his clients. His expertise in high-quality renovations also aids his clients in visualizing the possibilities.

Searching for the ideal Edmonton loft? Learn more about many of Edmonton’s amazing lofts right here, with the latest Edmonton lofts for sale and news.

1. Bigger May Actually Be Better

The Rembrandt offers a range of sizes for condos from 1000-2000 sq ft. You will be able to live a “large” lifestyle in these expansive condo units.

2. Its Named After A Famous Painter

According to wikipedia: “Rembrandt Harmenszoon van Rijn was a Dutch draughtsman, painter and printmaker. An innovative and prolific master in three media, he is generally considered one of the greatest visual artists in the history of art and the most important in Dutch art history.”

3. It Is A Really Well Managed Edmonton Condo (So Many Upgrades)

In 2018 alone, they completed: New triple pane windows, South side roof was replaced, updated security and locks, updated landscaping and fibre optic internet from Telus.

4. Mill Creek Ravine

Getting to the Mill Creek Ravine from The Rembrandt is less than 1 block away. This ravine is rated #3 on 146 things to do in Edmonton according to Trip Advisor making it a choice location to live for those that like to stay active, enjoy nature or who adore getting outdoors with their dog.

5. Mill Creek Pool

You don’t often get an outdoor pool walking distance from your home. This pool is a popular hot spot for all ages during the summer months.

6. Pet & Children Friendly

This Edmonton condo building welcomes your whole family including your loveable fur-babies.

7. Not To Many Neighbours

There is something to be said about community when you live a condo building with less units. In fact, the 5th floor for example only has 2 units on it.

8. Great Eats

Located within a couple minute walk is some of our favorite places to eat including Route 99 (one of Edmonton’s few classic diners), Mill Creek Ravine (a great place to eat any meal) and Boulangerie Bonjour (an amazing French bakery).

9. The Community of Strathcona

Need we say more? Strathcona and the Whyte Avenue area have so much to offer in terms of a great local scene and commutability.

10. Last, But Not Least, Unbelievable Views

This building offers panoramic views of the river valley and of the downtown skyline. Imagine sipping a glass of wine while taking in the Canada Day fireworks display directly from your balcony.

Even better is the fact that you can move into this building between the low $200,000 and higher $300,000’s. This makes this Edmonton condo an ideal location for many Edmonton home buyers, including people looking to down-size and even investors. Take a look at all the Edmonton Condos For Sale In The Rembrandt today.

1. You’ll Love The Viking Theme

According to the Encylcopedia of Brittanica: Valhalla, Old Norse Valhöll, in Norse mythology, the hall of slain warriors, who live there blissfully under the leadership of the god Odin. Valhalla is depicted as a splendid palace, roofed with shields, where the warriors feast on the flesh of a boar slaughtered daily and made whole again each evening. They drink liquor that flows from the udders of a goat, and their sport is to fight one another every day.

The Valhalla in Oliver, lives up to this name with playful Viking imagery through out the building and with its other aesthetic elements.

2. The Valhalla Is Pet Friendly

That’s right, this building welcomes your furry friends, including larger size dogs. Man’s Best Friend offers a wonderful opportunity to say hello to your neighbours.

3. The Valhalla Is Child Friendly

This building is extremely inclusive and definitely checks off “positive” points with the Child Friendly Housing Coalition of Alberta. As more families want to stay in central Edmonton, condos are becoming more of a norm when raising your family. It is great to know, that if you choose to buy in the Valhalla, you’ll never be pressured to leave if you find out your expecting.

4. The Valhalla Offers Incredible Views

To the south of the Valhalla Condos in Edmonton, you have our unbelievable river valley and to the north you have panoramic views of downtown. No matter which direction you face, the units in the Valhalla offer bright, open windows and gorgeous views.

5. The Valhalla Cares About Your Safety

Based on the efforts made to ensure the safety and welling being of their residents, you could say the Valhalla is as safe as Fort Knox. The building had a huge audit done, including seeing if a person could scale up to the large communal deck facing the river valley and trust us when we say they could teach other buildings strategies for maintaining a safe and peaceful building. Experience, new and increased lighting, new door latches, new fencing and a whole bunch of over cool stuff (well cool if you understand the nuances of this).

6. The Valhalla Supports Alternative Transportation: Bikers Welcome

Want to live in central Edmonton and prefer to bike everywhere? The Valhalla Condo in Oliver has you covered. There is no reason you have to store your bike in your condo or track up the elements to your floor, when there is a bike room in the parkade and hooks available for bikes in each parking stall. For those who can’t live without your car, they also offer a tire storage room for your winter/summer tires.

7. People Who Live In The Valhalla Are Social

It isn’t often when you find a larger building with a great sense of community belonging. At the Valhalla, residents are encouraged to get together every once in a while with offerings of Christmas movie nights, annual “yard” sales and even the option to pay for yoga classes available right in the building. There are also great gathering spots including a place to play pool, a breathtaking patio to hang out on and even social room you can book for events or get-togethers.

8. You Don’t Have To Leave To Work Out

No need to pay for a separate gym membership, when everything you need is right in your building. Enjoy the work out equipment where you have the best views in the city. Who wouldn’t want to work out while looking at the River Valley. Not to mention, if you enjoy swimming, this is one of the few private buildings that has maintained an amazing pool for residents to enjoy. Truthfully, I’ve been tempted to visit and get a work-out/swim in because it really is that nice.

9. Overall The Valhalla Is A Well Maintained Building

You may not be buying new here, but you are buying a piece of Edmonton history in a building with a great condo board that is doing a good job of maintaining and upgrading the building. Many of the major upgrades have been completed and a good portion of the condo fees are dedicated to the reserve fund for long term planning and peace of mind for residents.

10. Ideal Spot In Central Edmonton For Urban Nature Lovers

Located right on the River Valley, the Valhalla is perfect for those who love to get out and enjoy Edmonton’s scenic river valley. Whether you like jogging, cycling, or even segwaying with River Valley Adventure Co., Edmonton offers a true gem of outdoor delights.

We can’t say enough wonderful things about the Valhalla, however, there is 1 more benefit – you can move into this building between the low $200,000 and mid $300,000’s. This make this condo a perfect for first time home buyers, people looking to down-size and even investors. Take a look at the Edmonton Condos For Sale In The Valhalla today.

Are you ready to purchase a new home and are considering the Edmonton condo lifestyle? There are different requirements that must be considered when choosing to buy a condo compared to a standard single family house? Furthermore, there are different things you need to know about when buying an Edmonton condo.  These are all important items to consider and are something that you real estate agent can walk you through in more depth. However, there are several answers that you can find via this article.

How to Choose an Edmonton Condo

When it comes to condos, you are going to find that there are several that are available that are going to fit the style that you have, the budget that you want, and the type of lifestyle that you want. It is important to note that when you purchase a condo, you are purchasing the unit that you want, along with shared ownership of the common property that is in the area. Your unit is going to be like your own little house, thus you are responsible for its upkeep just as you would be if you had purchased a house that sat on its own.

There are basically two types of condos that are out there:

Conventional condo: This is the most common and refers to a condo that is located within a large building. Those who purchase here have ownership of everything inside their unit and shared ownership of the common property that may include air conditioning, plumbing, fitness centres, pools and the like.

Bare Land Condos:  Unlike a conventional condo, where the boundaries of unit are wall to wall, a bareland condo is defined by a parcel of land in which the units boundaries are defined by reference to survey markers. Often times, a bareland condo will contain a structure (home) on it such as a townhouse, duplex or detached home. Depending on the corporations bylaws, an owner will typically have greater responsibility for their unit such as landscaping, exterior repairs etc.  In some complexes, bare land condos will feature enhanced shared amenities such as pools, fitness centres etc. 

Should You Buy New?

When condo shopping, one of the biggest questions that you will be asked is whether you want a brand-new unit that no one has lived in or in buying one that is used and has been lived in? Buying new is often a dream of many people, however, they need to truly understand what they are going to be gaining and losing in buying new. The drawbacks of buying new include:

• You may have to wait for months for the condo to be complete
• You may be relying on drawings and 3-D constructions of what you are buying rather than seeing it in person
• Move in dates are flexible with a new condo
• When buying new you are responsible for paying gst.

The pros of buying new include:

• It is move in ready once it has been complete
• You may be able to customize features when buying
• You get access to a new home warranty coverage (10 years)
• You may find something that is more modern compared to buying one already on the market

A resale Edmonton condo can be a great option for those who are not interested in a new condo. However, this also has pros and cons as well. The pros for buying a resale condo include:

• You usually get to move in sooner since you are not having to wait for construction to be complete
• You can physically see the unit and know what you are getting
• You can talk with others to see if the complex is something that you are going to be interested in

The cons of buying a resale include:

• The unit may need renovations since it may be older
• The amenities of the condo may be limited if it is older

Documents Needed for Purchasing am Edmonton Condo

There are several documents that you are going to need in order to purchase a condo. These documents will differ based on whether you are buying new or buying resale. However, some documents that may be required include:

• A purchase agreement
• By-laws of the condo
• Home warranty insurance contract
• Annual General Meeting of the condo board
• Management agreement of the condo board
• Certificate of Title
• Condo Minutes 
• Insurance coverage
• Real property report
• Reserve Fund Study

At TruHome, we understand the in’s and outs of buying an Edmonton condo and would be happy to walk you through the process, including what you will need based on your personal situation and what type of condo you are interested in buying.

Tips for Buying a Condo

For those who are ready to buy an Edmonton condo, here are a few tips that can make this process easier and allow you to find the condo that is going to be a great fit for you in the future.

• Be sure that you fully look at the property if you are buying a resale. What do you like about the area? Are there things that you dislike? Do you think you can live with these dislikes?
• Be sure to talk to current condo owners in the area when buying resale. You need to know whether you are going to like living here due to the neighbours. Those who live here already can be a great source of what the feel of the area is.
• When buying new, be sure that you study the blueprints and proposed outlines of what the condo is going to be like.
• Consider whether you like the actual land location of a new condo before committing to buying this.
• Be sure to work with a real estate agent in either case, whether you are planning on buying a new condo or reselling one. You will find that the knowledge of a real estate agent can help save you from a potentially huge costly mistake in the future.

Buying an Edmonton condo is not very different from buying any other home on the market. You simply have to find the one condo that you love and can picture yourself in for years to come.

Explore all Edmonton Condos here. Have an Edmonton Condo question? Let’s Chat!

Welcome to The View, and true to name, this condo has the best Views in the city. Undoubtedly one of the most unique layouts for a condo you will find on the market today. At just over 1200 Square Feet, this two bedroom, two bathroom condo is sure to impress anyone who comes in. Southwest Exposure from the large balcony looking over the lush River Valley and Downtown City landscape, ensures loads of sunlight during the day and gorgeous city light views at night. This condo is perfect for the downtown professional or a young family who wants to live in the heart of Edmonton close to everything downtown has to offer; as well a quick walk into the adventures of the River Valley. With a tandem, two parking spots, in suite laundry, 9 foot ceilings, large windows, and gorgeous open concept layout – this is a condo not to be missed – you will not find another view like this in the city. Learn more or book a showing today here!

When it comes to adult living, this 50+ condo offers both convenience and style. Located in The Estates At Lakeside, unit 374 features a unique layout including 2 bedrooms and a den. White cabinetry in the kitchen makes it both bright and open. Close to the future LRT and easy access to both 66th street and 50th street, this home is ideal for those looking to downsize their space without downsizing their life. Be sure to check out this Edmonton condo now!

Call Elisse & Caitlin today to view 587-400-SOLD (7653)

This past month, according to Airbnb, Edmonton made the list of top trending destinations for rentals, ranking in 3rd behind Ganagneung, Korea and Bournemouth, UK. Only 2 Canadian destinations made the top 20 list with Fernie, BC at number 17. Our new ranking indicates Edmonton has seen a 284% increase in bookings¹! Wow. Edmonton? From someone who has personally benefited from renting out income properties with this particular service, here’s what I’ve learned.

Edmonton Property investors have typically maintained two means to make rental income:

1. Long-term rentals, usually for 1 year or more.  A typical one bedroom Edmonton condo could yield around $1000.00 per month.
2. Shorter Term Rentals. These would typically be between 3-6 months and usually are furnished. A 1 bedroom would rent at around $1200.00 per month.

But now, property investors can choose services like Airbnb.

A typical night stay in an Airbnb in Edmonton, for a 1 bedroom condo (not shared accommodation) works out to an astounding $100.00 per night on average².  Add cleaning service fees and you are looking at typically $120.00/night with average utilization being 80% – you are now making around $2500 per month.  Sounds like a no-brainer right?

Well, we would love to say yes, but there are some considerations prior to jumping on the Airbnb train.

Are you allowed to Airbnb your Edmonton Condo?

By owning something, it is natural to think that you can do what you want; however, when you sign on to condo living, you are also agreeing to the condo associations bylaws. In many condo buildings in Edmonton, you will find a clause in the bylaws that advises that short-term leases are not permitted. Airbnb rentals are by the night, and most travellers usually average 3 nights or less, this, by definition, would not be allowed.

In this case, you can consider pursuing the Airbnb rental or you can look at ways to change your condo bylaws.

If you pursue moving forward with renting your Edmonton condo via Airbnb, please consider the following:

• The condo board may consider taking legal action against you.
• The board can deactivate your key-fobs, thereby making it difficult, if not impossible for your Airbnb tenants to get into the building.
• The board can deny access to the building and/or your unit to anyone attempting to occupy the unit in violation of the short-term lease rule.

If your condo association is limiting your options for renting out your YEG pad, you can work with the owners in your building to consider changing the bylaws to be more inclusive of rental agreements like Airbnb. This could be a long process as it can be difficult to change the bylaws of a condominium. The reason for this is that it requires approval from 75% of the total unit factors (residents) in order to be able to change, withdraw or replace, through a special resolution, a bylaw.

Change can happen. It does take time and a willingness from all parties it will affect. To influence change or help in decisions within your condo, we always recommend joining the board and becoming a part of the process.

Consider what CRA will want from you…

Using Airbnb could result in your yearly tax accounting getting more complicated since it is situated in a bit of a grey area from a taxation perspective. The government may consider your use of Airbnb as essentially operating a mini (very mini) hotel. Due to this, they may expect you to charge and remit taxes just like any other commercial operation.

Depending on your municipality and local rules, there may also be local hotel taxes that are expected go to the city that you would technically be responsible for collecting.

So what can you do? Be aware. Talk to your accountant about implications from a tax perspective sense. Read the condo bylaws and ask questions before you buy. Research the rules surrounding Airbnb from the municipal perspective.

Be sure you have the right insurance in place

Chances are your standard insurance policy does not include the use of services like Airbnb.

If something ever happened in your unit and you need to make a claim, or worse, if something ever happened to someone in the unit and you were being sued, your insurance company may not cover you if they found out that the occupant was from Airbnb.

Keep in mind, Airbnb does offer Host Protection Insurance in Canada, so be sure to read up on what it offers and how it can work with your own personal insurance to protect your assets. Talk to your insurance company and determine with them how they can work with you.

Conclusion: We agree Airbnb is great. Just put in the time to prepare your unit and determine if Airbnb is the right choice for your investment strategy.

At present time, perusing Airbnb.com you can see there are dozens of landlords using the website to rent out their condos downtown. Similar to the conflicts of Uber, Airbnb also needs to be looked at from a personal level, a condo level, a municipal level and a provincial level.

The fact that Airbnb usage is so high in Edmonton reflects that there is a need and desire for it in our marketplace. The question is, how can Real Estate investors navigate the world of Airbnb to ensure they are staying within the law and protecting their future cash flow in a positive way?

At present, the safest way an Edmonton real estate investor can use Airbnb is by pursuing home purchases that sit outside of condo regulation. There are great options, especially in mature areas of Edmonton (Westmount, Inglewood, Forest Heights, Ritchie etc) that offer homes with legal basement suites or attached home styles that are priced at similar rates to typical condos in the core.

Chat with our team to discuss your investment needs. We are here to help you navigate the Edmonton real estate market better.

Caitlin Heine,

TruHome Advisor

Caitlin Heine, your TruHome Real Estate Advisor has been using the services of Airbnb for years both in Edmonton and Vancouver. She understands what it means to invest in Edmonton Real Estate and strategies to navigate positive cash flow.

More information here:

https://www.ahla.ca/wp-content/uploads/2017/09/Edmonton-AB.pdf

¹ http://edmontonjournal.com/news/local-news/edmonton-is-a-trending-global-travel-hotspot-airbnb 

² https://www.airbnb.ca

*We are not affiliated, associated, authorized, endorsed by, or in any way officially connected with Airbnb, or any of its subsidiaries or its affiliates. The official Airbnb website can be found at http://www.airbnb.ca The name “Airbnb” as well as related names, marks, emblems and images are registered trademarks of Airbnb.