Steve Nguyen runs two Airbnb units in a downtown Victoria apartment building, including one decorated and paying homage to the television show, “Friends”. He says he’s still reeling from the news he soon won't be able to operate it as a short-term rental since he doesn’t live there.
  • festus@lemmy.caEnglish
    251·
    2 years ago

    It’s not even the right calculation he should be considering - a mortgage payment pays down interest and principal. Rent should only be expected to cover the interest portion of a mortgage - anything that covers principal is basically free money for the landlord. This guy is basically upset because he can’t find a tenant who’ll give him a free house fast enough. I have no sympathy.