Rent by the room in Edmonton

[Ian Dale Ibrado]

Hi everyone.

Has anyone tried renting by the roomin Edmonton?

Is there a maximum number of tenants allowed? If so, where can we get some advise or research regarding regulations?

Thanks

Ian

[Anthony Therrien-Bernard]

I have done this in Calgary and exited my property under 2 years. I was renting 7 bedrooms by the room, it's a complete nightmare trust me, even with good property management there is ZERO accountability from the tenants, especially in common areas, they all blame each other and no way to prove anything. I know the cashflow looks very appealing (mine exceeded all my projections) however it is such a management nightmare and after less than 2 years I could see my property getting driven into the ground. Regarding Calgary it feel in a weird gray area, I believe 8 rooms and more you can apply for a lodging license, and if you don't live at the property up to 3 bedrooms is allowed but between 4 and 7 is sort of an unfilled gap by regulations