If Taylor Swift was performing in your backyard, would you stay for the show or try to make thousands of dollars renting your home to a Swiftie?
That was the question on Shekina Plowman’s mind when she realized that the megastar’s six, sold-out shows in mid-November could be heard from her condo balcony overlooking the Rogers Centre.
Plowman had read all about Swift’s Eras Tour, a force that has moved economies of small European countries as fans from around the world swarmed cities with cash and no fear of spending it. She thought about the traffic in downtown Toronto during Swift’s visit, the crowds, the chaos. She thought about the bills coming due.
So she took the chance to make a quick buck by listing her one-bedroom condo for $750 a night from Nov. 14-23, arranging to stay with her brother in North York during that time.
“Lots of people are coming over to Toronto for the concerts and it’s incredible the prices that they pay for the tickets and stuff,” Plowman said, adding that, as a single woman and recent homeowner with a mortgage, she is more conscious of her finances then ever. “Toronto brings that side-hustle out of you,” she joked.
Like Plowman, money-savvy Torontonians are listing their properties as rentals exclusively for the dates Swift will be in town. The online ads suggest these aren’t your typical short-term rental operators, but regular folk embracing a one-off chance to cash in on the fandom that is expected to bring $282 million to Toronto’s economy. That includes more than $152 million in direct spending in transportation and accommodation, according to Destination Toronto.
These emerging opportunists reflect a city whose residents are, on the one hand, incredibly resourceful while, on the other, feeling the economic squeeze.
“If people are feeling comfortable and have money left over and don’t need the extra income, then they’re probably not as motivated,” said Scott Schieman, sociology professor at the University of Toronto who has researched side-hustles and gig work.
“The tools are there and available and, if the market is providing an influx of demand, then it makes sense that some people are going to try to take advantage of that.”
Paul Glavin, professor of sociology at McMaster University, thinks Swift’s “unique phenomenon” shines a light on the contemporary gig economy that looks to commodify everything, including the smallest of tasks.
It speaks to the current “convenience culture” and technological advancements that made apps like Uber Eats and Airbnb popular, he said. “A decade or two ago you wouldn’t have seen this kind of monetization.”
A listing on Facebook Marketplace for an apartment in Leslieville promises an “easy streetcar ride” to the venue, adding “this is an alternative to hotel or Airbnb accommodation during Taylor Swift shows only. This is NOT a long-term rental.”
“Special offer for Taylor Swift show,” reads another Facebook Marketplace post for a one-bedroom apartment going for $400 a night.
Some ads are playful, like Plowman’s: “Enjoy a front-row seat to sound checks from your private balcony and walk to the concert in under two minutes. Forget traffic, parking and Uber hassles — your VIP experience starts here.”
Prices for one-bedroom rentals in the GTA on Facebook Marketplace, Kijiji and Airbnb citing “Taylor Swift” over the past week ranged from $250 a night for a shared accommodation in Oshawa to $850 a night for a “luxury suite” an 11-minute walk from the stadium.
When asked if the dome will be open for the shows, a spokesperson for the Toronto Blue Jays said “fan venue information will be shared in the next week or so.”
Destination Toronto estimated that 93 per cent of $152-million direct expenditures will come from out-of-town Swifties, with 240,000 concertgoers expected to attend the shows. The estimate excluded concert ticket prices and airfare, as these revenues aren’t retained in the local economy.
Accordingly, the average daily rate of short-term rentals in mid-November is up 70 per cent compared with the same time last year, to $350 per night from $208.
Collin, who asked the Star to omit his last name due to the possibility of a conflict with his landlord, quickly jumped on the bandwagon when his girlfriend’s friends from Ottawa asked to stay at his place for a couple of nights during the tour, saying hotels were either sold out or going for “a ridiculous price.”
He was going to be travelling during Swift’s visit anyway, so he put up an online ad to sublet his one-bedroom downtown condo for $595 a night for the remaining days of the Eras Tour.
“The location is really optimal and I’m not looking to charge anyone an arm and a leg,” he said, “just trying to make some cash and I thought this was a good opportunity.”
When asked why he hadn’t done the same when other popular artists came to town, he replied: “That’s a good question. It just has to do with the popularity of the Eras Tour so far.”
“It’s all everyone talks about for the last two years,” he added. “Taylor Swift. Taylor Swift. Taylor Swift.”
