John Tory, Toronto’s mayor agrees with Toronto’s Municipal Licensing and Standards department on the released report, which points out to a number of individuals and companies who offer short-term rentals, including properties listed on Airbnb. According to him, these suggested measures would assist strike a balance between the need for such homes and the interferences they can cause to the neighboring provinces.
One of the proposed rules includes the Municipal’s decision to put an end to anyone trying to rent out a home that’s not their primary residence.
Tory stated that this would aid stabilize neighborhoods, controlling the number of people with the intention of temporally housing, while also possibly putting housing units back on the market for longer-terms tenants.
More references includes licensing short-term rental companies like Airbnb, creating a records office for people who operate short-term rentals, plus changing zoning bylaws to create a new land use classification for short-term rentals.
In order for the recommendations to become legitimate, city councils must vote on them and Tory says the recommended guidelines are still open to public discussion and feedback. However accentuated that there’s a need to address the short-term rental market in the city, which defenders contend brings millions of tourism dollars into the city. Airbnb approximates that its users spent about $417 million in neighborhoods last year,” noted the Canadian Press.
Tory said that the proposed guidelines which the city estimates would remove about 3,200 properties from the short-term rental market, could minimize that risk.
“I think what we have done is, we tried to attain an equilibrium between this kind of availability for tourist and others, plus the needs of people for permanent housing and 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 narrowed. The city based its information on the 2016 data provided by Airbnb, the most high-profile dais through which people both list and book short-term rentals.
Alex Dagg, Airbnb’s public police manager for Canada said the company is creating an assessment on the city’s recommendations and plans, hence would give their feedback at a later date.