Renting out an apartment is by far one of the fastest ways of generating income with minimum effort. All you need is a decent space and some legal permissions to rent out your property. With the help of an Edmonton real estate lawyer, you will be able to understand the clauses put forth in the Residential Tenancies Act (RTA), the main governing bylaws for landlords and tenants. As long as you find a trustworthy tenant for a fixed period, you will be generating additional income every month.
But things tend to take a different turn if your tenant ends up renting your space to someone else. The scenario can get even more complicated if your property is listed on Airbnb or any other property sharing site without your permission.
So the question here is, do tenants have the right to rent out your space? Is there a law in place to address this issue? Let’s find out.
Tenants need landlord’s approval
Tenants cannot rent out their apartments without the approval of their landlords. However, tenants can rent out their landlord’s property for commercial purposes. The Tenants’ Rights website, states that:
“Landlords are required to respond to a tenant in writing and give permission within a period of 14 days after the tenant’s request to sublet or assign the rental property, or it is automatically assumed that they have consented to the sublet. Landlords are not able to refuse a tenant’s request for a sublet or assignment without a valid reason.”
It is, therefore, legally permissible for tenants to rent their landlord’s apartment on Airbnb.
Tenants cannot hike the price
While tenants are allowed to rent out their apartments to other tenants or travel guests, they cannot charge them a price higher than what they are paying their landlords. So in effect, they cannot make a profit through their sublets.
Is your tenant planning to rent your apartment on Airbnb? Consult with our real estate lawyers to know more about the changes you can make in the rental agreement and the legalities involved in the process.