My business idea is to launch a short-term rental service called “Homely” offering affordable, homely accommodations in Canada with an initial investment under CAD 50,000. The focus is on providing unique, home-like experiences through furnished rentals in secondary cities, targeting travelers seeking authentic, comfortable stays over traditional hotels.
According to my plan, invest in a single, modestly priced property like a small house in a Tier-2 city like Halifax or Kelowna, where property costs are lower than in major metros for a down payment, furnishings, and initial setup. Design interiors with cozy, local-themed decor to create a welcoming, home-like atmosphere. Offer amenities like fully equipped kitchens, board games, and local guidebooks to enhance the guest experience. I will list the property on Airbnb, Vrbo, and Booking.com, using dynamic pricing tools to optimize rates based on demand and seasonality.
The global short-term rental market is growing with projected revenue of USD 19.39 billion in 2023 and global growth expected at a CAGR of 3.8% through 2028. Platforms like Airbnb and Vrbo dominate by demand for personalized, flexible accommodations. Canada’s short-term rental market is growing, particularly in tourist-heavy regions, but faces challenges from regulatory scrutiny in major cities like Toronto and Vancouver.
According to a research, guests increasingly seek rentals that feel like home, with cozy decor, local touches, and amenities like kitchens (Pechurina, 2025). And also collaborating with local businesses can enhance our guest experiences and repeat bookings. Increasing short-term rental regulations in Canada, such as nightcaps or licensing requirements, could limit operations.
The short-term rental market’s steady growth and high demand in Canada, especially in tourist-friendly secondary cities, support investment viability. Focusing on a single property with minimal investment maximizes my return of investment. Airbnb and Vrbo’s global reach ensures visibility for my well-design listing.
References
Pechurina, A. (2025, June 26). “IT IS a FEELING OF HOME, BUT THERE IS NOT TOO MUCH OF ‘HOME’ LEFT”: AIRBNB AND AMBIVALENT HOMEMAKING. Taylor and Francis, 0(0), 20. https://doi.org/10.1080/17406315.2025.2523013