Proposed New Rules Might Get Non Toronto Residents Thrown Off their Homes

John Tory, Toronto’s mayor is in accordance with Toronto’s Municipal Licensing and Standards department on the released report which lays out a number of individuals and companies who offer short-term rentals which includes properties listed on Airbnb. According to him, this proposed new rules would help strike a balance between the need for such homes and the disruptions they can cause to the neighboring provinces.

One of the proposed rules includes the Municipal’s decision to put an end to anyone who tries to rent out a home that’s not their primary residence.

Tory mentioned that this would help stabilize neighborhoods limiting the number of people with the intention of temporally lodging, while also potentially putting housing units back on the market for longer-terms tenants.

More recommendations includes licensing short-term rental companies like Airbnb, creating a registry for people who operate short-term rentals, and changing zoning bylaws to create a new land use classification for short-term rentals.

“In order for the recommendations to become legal, city councils must vote on them and Tory says the proposed rules are still open to public consultation and feedback. But emphasized that there’s a need to address the short-term rental market in the city, which defenders argue brings millions of tourism dollars into the city. Airbnb estimates its users spent about $417 million in neighborhoods last year.” Noted the Canadian Press.

Tory said that the proposed new rules, which the city estimates would remove about 3,200 properties from the short-term rental market, could limit that risk.

“I think what  we’ve done is we’ve tried to achieve a balance between this kind of availability for tourist and others, and the needs of people for permanent housing and the need for stable neighborhoods,” stated Tory in a press conference on Monday.

According to the city’s report; 7,600 properties would be around even if rentals are limited. The city based its information on 2016 data provided by Airbnb, the most high-profile platform through which people both list and book short-term rentals.

Alex Dagg, Airbnb’s public police manager for Canada said the company is making a review on the city’s recommendations and plans and would give their feedback at a later date.