Is it a good business to rent a place in Montreal?

I think it would be a fantastic idea: it's very hard to find affordable private vacation rental in Montreal (it's all hotels, motels or expensive b&bs). If you don't charge too much it'll go super fast. Alternatively, you can furnish it to a higher standard and rent it out to higher clientele - however, you might find that whichever you choose, you'd have to make sure you were allowed to sublet. If it was your own condo you'd have more freedom (but not all condos allow subletting either).

It is illegal to ask for security deposits on rentals in Quebec - I'm not sure about vacation rentals but I'm 100% sure you're not allowed with regular rentals. I'm sure many people do (I know all chalets ask for a deposit), but please check this out first. You don't want someone reporting you for breaking the law.

Also from personal experience (owning a condo in Ireland and renting it out longterm) it is EXTREMELY difficult to do this from long-distance (since you don't mention where you are, I'm assuming you don't also live in Montreal). People can trash the place, skip out on payment, and do all sorts of pesky damage if you're not around (and even if you are). You have to be willing to accept that this could be a gigantic hassle, and you might end up paying more in taxes and costs than you get in revenue.

Be very careful how you invest, and be sure you can manage it once you have it. Cover all your bases!

yes, i know someone who was looking for something like that and said that it was hard to find because as soon as it was put on a website it was rented out within seconds. not a lot of people do that but the demand is very high so i'm sure you would be successful with that and can settle on a good price.

Sounds like a brilliant idea to me and if you can afford it, why not?

Don't forget to ask for a security deposit, just in case!

And filling the apartment with IKEA furniture is a great idea; that's what I used to buy for many years!

Good luck!