Here Are The Rules For Short-term Rentals In Toronto | Article Via The Star

On Monday, a provincial planning tribunal rejected a bid from Airbnb landlords to consider short-term rentals just like any residential use of a home and upheld Toronto’s existing regulations, passed by city council in 2017 and 2018.

Landlords have 30 days from the release of the decision to request a review of the ruling from the associate chair of the Local Planning Appeal Tribunal (LPAT) or appeal to Divisional Court, although it is not clear whether or not they will pursue either option.

So for now, here are the municipal rules for short-term rentals:

  • People can host short-term rentals in their principal residence only
  • “Short-term” is considered as less than 28 days
  • Short-term rentals are only allowed for up to 180 nights a year for an entire house or apartment
  • Homeowners can rent up to three bedrooms year-round on a short-term basis
  • Homeowners are not allowed to use basement apartments as short-term rentals — only a full-time resident of a basement apartment is allowed to do so
  • People who rent their homes as short-term rentals need to register with municipal officials and pay a $50 fee
  • Airbnb and other similar companies will have to pay a one-time licence application fee amounting to $5,000 plus $1 for each night booked through the firm
  • People will need to pay a 4 per cent “Municipal Accommodation Tax” (MAT) on all short-term rentals
  • Airbnb and other similar companies will have the opportunity to enter into voluntary agreements to collect the MAT on behalf of people who do short-term rentals

 

A spokesperson for the City of Toronto earlier said that the city will move ahead with implementing the rules but did not provide a timeline as to when they will take effect.

 

–> Link to Original Article

Roland Brunner
roland@blueelephantrealty.com
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