2 YEAR 234%*

3 YEAR 2.84%*

4 YEAR 3.04%

5 YEAR 2.64%*

5 YEAR Variable 2.90%*

Updated Ferbuary 19th, 2020
*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

What to do if short-term renters trash your home

MoneySense ~ August 13th, 2019

Even when they follow your rules, Airbnb guests may cause damage to your most expensive asset. But the right insurance can protect you from potentially big out-of-pocket costs. Here’s what you need to know.

As new homeowners with two young children, Mark and Star Stark were always on the hunt for ways to save or earn a few extra dollars. They’d heard about short-term rental listing services, like Airbnb and Vrbo, and thought that seemed like a relatively easy and stress-free way to turn their four-bedroom Calgary home into a money-maker. After advertising their place on Airbnb, the Starks got a message from a group of four adults who were coming to town for a family wedding. Feeling confident, the Starks gave them the booking, and on the appointed weekend, left to stay with Mark’s parents in another part of the city.

Within hours of their departure, the Starks heard from neighbours that busloads of people had begun showing up at their home. What ensued was a two-day party that police later described as a “drug-induced orgy.” The worst part was that even though they knew what was going on, the Starks couldn’t kick their guests out until the end of the rental term—because the guests were protected under contractual law.

Click here to read the full article.