Many Halifax property owners wonder if short-term rentals really beat a traditional lease in terms of revenue. Below is a side-by-side ROI comparison—brought to you by Casa Scotia, experts in local short-term rental management—that breaks down monthly income, occupancy trends, and factors that tip the scales in Halifax’s real estate scene.
1. Monthly Income Potential
Long-Term Lease
Fixed Rent: Typically CA$1,500–2,500 for condos, and CA$2,500–4,000 for single-family homes in central Halifax, depending on size/location.
Steady Payout: You receive the same amount each month, which can be reassuring if you prefer predictable income.
Short-Term Rentals
Nightly Rates: Depending on season and property style, short-term rentals in Halifax might range from CA$120–300/night for condos and CA$250–500/night for family homes.
Higher Gross: Even with off-season dips, monthly totals can surpass fixed leases—especially during summer festivals or university events.
2. Occupancy & Seasonal Fluctuations
Long-Term Lease
Year-Round Occupancy: A single tenant (or family) typically occupies your property 12 months, minimizing vacancy concerns.
Limited Scheduling: You can’t easily use the home yourself on a whim.
Short-Term Rentals
Seasonal Peaks: Halifax sees demand spikes during summer festivals, fall foliage, and holiday seasons. Occupancy can exceed 80% in high months.
Owner Flexibility: Block off personal dates for vacations or property checks. In slow months, consider mid-term bookings (e.g., traveling nurses).
3. Typical Expenses & Maintenance
Long-Term Lease
Less Frequent Turnover: One tenant might stay 1–2 years, reducing cleaning or turnover costs.
Wear & Tear Risks: If a tenant underreports issues, small problems can become costly repairs over time.
Short-Term Rentals
Frequent Turnover: You’ll schedule cleanings and routine maintenance after each stay, but each guest pays a cleaning fee or you factor it into nightly rates.
Proactive Upkeep: More frequent inspections mean issues get spotted and fixed early, preserving long-term property value.
4. Real ROI Example: Halifax Condo
Long-Term Tenant
Rent: CA$2,200/month
Annual Gross: CA$26,400
Vacancy: Minimal unless tenant moves, but re-leasing can take weeks.
Short-Term Setup
Nightly Rate: CA$180–220 (depending on season)
Occupancy: ~65% year-round average (peaking in summer)
Estimated Monthly Gross: ~CA$3,200–3,800/month
Annual Gross: ~CA$38,000+
Management Fee: Short-term platforms or manager fees (often ~15–20%). Still, net earnings often outpace the fixed lease total.
5. Which Model Fits You?
Risk Appetite: Short-term rentals yield higher gross income but require active management. A professional manager can reduce the workload.
Personal Use: If you want the flexibility to stay in your own property, short-term rentals let you block dates at will—impossible with a 12-month tenant.
Market Responsiveness: In a strong tourism period, nightly rates rise; in a slowdown, you can pivot strategies (discounts, mid-term).
Casa Scotia: Boost Your Halifax ROI
If you own a Halifax property, short-term rentals can earn 30–100% more than a traditional lease—especially with the right management. Casa Scotia handles marketing, pricing, guest screening, and more, so you focus on enjoying higher returns without the hassle.
Own a Property Here? Curious how short-term rentals earn 30–100% more? Learn more on our Services Page or request a Free Estimate.
Halifax is ripe for short-term rental success—by comparing the numbers, it’s clear how a well-managed listing can significantly outdo fixed monthly rent, all while offering you personal use and flexibility year-round.