New Rules For AirBNB In TorontoPosted by Paul Ambler on
After two years on hold, new rules for short term rentals have been approved in Toronto. The Local Planning Appeal Tribunal said in a ruling released Monday that it has dismissed an appeal by several residents who objected to the rules that put limits on how people can rent out their properties. The city put the rules in place in part over concerns that short-term rentals like Airbnb were reducing the rental stock as the city deals with a housing crisis. In Toronto, it’s estimated that there are 21,000 Air BNB listings. They produce $214 million a year in short-term rental revenue and Toronto is Canada's largest market.
Under the new zoning bylaw amendments, short-term rentals will only be allowed in principal residences, which means landlords will…
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