In this episode of the STR Data Lab, Jamie Lane, chief economist at AirDNA, sits down with Catherine Rathcliffe to discuss recent developments affecting short-term rentals, especially in Canada. The conversation shifts from past topics like insurance and HR to focus on the significant news in Canadian short-term rentals. With the Trump's administration's proposed tariffs and heightened political tensions, both Canadian and American operators are feeling the impact. Rathcliffe, a repeat guest, brings her expertise on Canadian travel and economic implications. She reflects on the historical relationship between the U.S. and Canada, highlighting how the falling Canadian dollar and political tensions are affecting travel behaviors. She notes that 20 million Canadians visited the U.S. last year, making up a significant portion of international visitation, while Canadians represented 3% of U.S. demand in short-term rentals last year. The current environment promotes a sense of patriotism in Canadians opting for domestic travel, potentially influencing similar sentiments among Americans considering travel to Canada.
The discussion also touches on local regulations in Montreal and British Columbia, and their impact on the short-term rental market. Rathcliffe suggests that enforcement nuances and public-private collaborations play a role in how these regulations are implemented. As political figures change, upcoming elections could further influence travel and economic policies. Despite these challenges, Rathcliffe remains optimistic about opportunities in the short-term rental market, predicting continued change and emphasizing the importance of being mindful of family protectionism and economic decisions. Lastly, Rathcliffe encourages everyone to vote and ensure their voice is heard in these politically turbulent times.
You don’t want to miss this episode!
~~~~
Signup for AirDNA for FREE👇
https://app.airdna.co/data
~~~~
Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
~~~~
Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
Episode 120
