This Airbnb alternative won’t destroy Canada’s housing market

Summary

“Fairbnb,” a new Canadian platform developed as an ethical alternative to Airbnb, aims to address the housing crisis exacerbated by short-term rental platforms. Unlike Airbnb, Fairbnb ensures that properties listed are the hosts’ principal residences, thus excluding commercial hosts with multiple listings. Significantly, 50% of Fairbnb’s service fees fund Community Land Trusts (CLTs), non-profit corporations that use land to benefit communities. Around 40 CLTs operate across Canada, focusing on acquiring and developing affordable housing. Fairbnb, which began in Europe in 2014, has already raised substantial investments and features over 2000 listings. The initiative’s focus on principal residences and community benefits sets it apart as a more sustainable and community-focused alternative in the short-term rental market.