SOULFUL DESIGN
Landmark Agreement
HELPING HEARTS
Looking inside to create Local group focuses on the perfect homescape mobility assistance
Federation of Calgary Communities teams up with University of Calgary
DEBORAH HARRISON A8
INDUSTRY A9
A5 FREE nov 20 to nov 26 2015 issue 05-45
real estate news from industry experts
editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
CALGARY SHARES Sharing economy proving controversial in Calgary and beyond CODY STUART
managing editor
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hare and share alike: for better or worse, it might be Calgary’s new unofficial slogan. Whether it’s a home, room, or even a parking spot, Calgarians are proving to be big believers in divvying up their assets, with the controversial Uber car-sharing app and several other share-based service-providers gaining footholds in the local market. Yet despite offering revenue-generating opportunities, services like AirBnB and Uber, also present some risks to providers, warn legal experts. “I would definitely make sure that if I wanted to make money via those sites that I have proper insurance as fully disclosed to the insurance company,” said Calgary lawyer Jeff Kahane, who specializes in real estate and commercial litigation. Kahane says that while he hasn’t seen the contracts used by either company and it is in their best interests to fully back their providers, the possibility remains that drivers and hosts could find themselves in hot water should something go wrong. “I imagine both companies refer their hosts to insurance companies that will cover them,” he said. “Without insurance, then the host may be personally liable for problems.” In real estate, AirBnB is helping homeowners “monetize their extra space” by renting it out via the company’s website. Founded in 2008, the San Francisco-based service is in more than 34,000 cities worldwide, providing rental options that range from single rooms to entire homes. AirBnB received some unwanted publicity earlier this year when a Calgary couple saw their home seriously damaged after renting it out through the company’s website. The company did cover the repair costs and
offered the homeowners a place to stay while their home was being renovated. Prompted in part by the incident, AirBnB recently made changed to its policies to provide Canadian hosts with access of up to $1 million in liability coverage. “Should something happen, the program will provide compensation if a guest is injured at a property listed on Airbnb and brings a claim against the host,” said the company in a release. “Moreover, the program will provide coverage in the case of accidental damage to the host’s room or home.” Despite the incident, a quick search of the Airbnb website reveals more than 300 Calgarians who are still willing to share their extra space. Last month, Ontario politician Tim Hudak introduced a bill that would provide provincewide guidelines for the “sharing economy,” including AirBnB. Hudak’s bill would see the time homeowners could rent their home on sites such as AirBnB without a licence limited to 120 days a year. “We should have a provincewide framework on these areas to help set the rules of the game, encourage investment, but at the heart of it to give people an opportunity to earn more money from assets they already own,” said Hudak. Similar legislation has also been proposed in Quebec, where AirBnB operators would be forced to respect the same bylaws and obtain the same government authorization as hotel and bed-and-breakfast operators in the province.
SHARING ECONOMY A3
Calgary lawyer Jeff Kahane warns Calgarians to read the fine print before signing up for sharep-based services.
CODY STUART, Managing Editor
CALGARY CONTENTS HOMEBUILDERS NEWS BRIEFS HONOURED FOR FIVE THINGS INDUSTRY GENEROSITY
A3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4 ................................
2664
2184
CREB® STAFF
1995
1217
OCT13 NOV13 DEC13 JAN14 FEB14 MAR14 APR14 MAY14 JUN14 JUL14 AUG14 SEP14 OCT14 NOV14 DEC14 JAN15 FEB15 MAR15 APR15 MAY15 JUN15 JUL15 AUG15 SEP15 OCT15
880
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1172
1421
1448
1643
1782
1779
1957
2145
2190
Investing in Hope
2146
2263
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2328
2539
Calgary housing market
1439
1724
1850
1948
2481
2945
CITY OF CALGARY
MLS® TOTAL SALES* OCT ‘13 – OCT ‘15
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everal Calgary homebuilders are being recognized for their collaborative contribution to the Calgary Homeless Foundation. As part of the 2015 Generosity of Spirit Awards, 11 homebuilders were honoured for the Philanthropic Group award after pledging $15.4 million to the Calgary Homeless Foundation through the Resolve campaign to build a series of apartment buildings.
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
$449,900
$559,900
$619,900
MLS®C4027142
MLS®C4039914
MLS®C4035522
305 - 1215 Cameron Ave SW
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A6
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