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Airbnb operators in Montreal with multiple listings earn the bulk of overall revenue while diverting housing stock from the rental market, according to a new study from McGill University.

“They’re running a business; they’re not homeowners who are just renting their homes when they’re going away for the weekend,” said David Wachsmuth, the study’s lead author and a professor in the School of Urban Planning.

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His study, Short-term Cities: Airbnb’s Impact on Canadian Housing Markets, was released on Tuesday.

It differentiates between hosts renting out spare rooms on occasion and “full-time” operators who list entire properties for much of the year.

“If you’re renting a place for two or more months and it’s available for four or more months,” Wachsmuth said, “it’s very hard to reconcile that with having a full-time tenant.”

The study found nearly 14,000 entire properties are rented for 60 days or more per year on Airbnb in Montreal, Toronto and Vancouver.