News   Sep 24, 2021
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Are the new short-term rental rules going to affect the condo prices?

Reno eagle

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You need to look at your Declaration and Rules to see what your Board is ALLOWED to do (or MUST do, they are legally obliged to enforce the Declaration and Rules). These MAY say something like "Each unit shall be occupied and used only as a private single family residence and for no other purpose" How do they decide that someone is a 'friend' rather than 'family' ? There may/probably are also "occupancy standards" noted in these documents, something like not more than 2 adults per bedroom. Stopping short-term rentals (if prohibited in your Declaration/Rules) makes perfect sense but forbidding a couple of un-related people to share a Unit seems impossible to me and almost impossible to enforce.
We'll put!
 

UserNameToronto

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Hello,

Apologies for the delayed response.
The upper beaches area house 1 br 1 wr w parking about 1600 I'd say. It's a small bungalow...
So with airbnb you can gross around 2300 if the house is in good conditions and offers great guest experience.

My place falls more into the basic necessities category- but I need to say for Toronto getting a place with parking (that costs 20 a night easy) at 60 a night... Is a steal
But guests are always right I guess..
That was my rant

Cheers
Ed

You might be surprised what it rents for on a long term lease. I rented a 600sqft 1b apartment, no parking, for about $2000 in Leslieville. I bet your whole 1b house would get the same. And it's easy - just collect the rent cheques.
 

Edward Skira

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News Release

December 7, 2017

City of Toronto regulates short-term rentals

Today, Toronto City Council has adopted recommendations to create a new bylaw for short-term rental regulations in the City of Toronto.

The new regulations will allow a property owner or tenant to participate as an operator (host) of a short-term rental in their principal residence, where they may share up to three bedrooms, or rent their entire residence on short-term durations but for no more than a total of 180 days a year. Short term rentals are rentals that are offered in periods of 28 consecutive days or less, and are typically facilitated through short-term rental companies (platforms) such as Airbnb.

“These regulations do the right thing in the right way. They strike a balance that embraces new technology and allows short-term rentals while protecting communities," said Mayor John Tory. "I’m proud City Council has found a way to regulate short-term rentals in a way that will keep housing affordable.”
The new regulations will take effect June 1, 2018. City staff will create an online registration system for short-term rental operators and will meet with short-term rental platform companies to provide guidance on the new regulations.

Homeowners and tenants who wish to share their principal residence and become a short-term rental operator will be required to register with the City through a new online registration system for an annual fee of $50.

Short-term rental platform companies, such as Airbnb, will require a license from the City. The initial application fee will be $5,000 and an annual licensing fee based on $1 per night booked through the platform.

The City is taking steps to accommodate people's desire to participate in home-sharing arrangements as both guests and hosts, while balancing the need to maintain rental housing stock and avoid commercialization of residential neighbourhoods.

City Council considered two staff reports today on this issue; a report from the Licensing and Standards Committee, LS23.1 Licensing and Registration Regulations for Short-Term Rentals, available at: http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2017.LS23.1 and a report from the City's Planning and Growth Management Committee,
PG24.8 Zoning By-law and Zoning By-law Amendments to Permit Short-term Rentals, available at http://app.toronto.ca/tmmis/viewAgendaItemHistory.do?item=2017.PG24.8.
Each link includes the decision history and amendments passed by Council.

This news release is also available on the City's website: http://ow.ly/fidJ30h5Bn7.

Toronto is Canada's largest city, the fourth largest in North America, and home to a diverse population of about 2.8 million people. It is a global centre for business, finance, arts and culture and is consistently ranked one of the world's most livable cities. In 2017, Toronto is honouring Canada's 150th birthday with "TO Canada with Love," a year-long program of celebrations, commemorations and exhibitions. For information on non-emergency City services and programs, Toronto residents, businesses and visitors can visit http://www.toronto.ca, call 311, 24 hours a day, 7 days a week, or follow us on Twitter at http://www.twitter.com/TorontoComms and on Instagram at http://www.instagram.com/cityofto.

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blixtex

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Really, how are they going to enforce this? It will overwhelm the city resources. The whole barring of basement rentals is just ridiculous IMO.
 

LordWanker

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Really, how are they going to enforce this? It will overwhelm the city resources. The whole barring of basement rentals is just ridiculous IMO.

You can take your chances and absorb the fines as a part of doing business, not that I'm advising that as a prudent method of operation.
As for basement rentals, they are legal as long as they meet all existing regulations ( local bylaws, fire code, building code, electrical safety requirements, and registration).
 

Admiral Beez

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This bylaw is odd to me. If the city wants more rental property, why not build some, instead of telling other people what to do with their property? If I own five houses and want to leave them all vacant, provided I maintain them and pay the taxes, whose business is it?
 

UserNameToronto

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This bylaw is odd to me. If the city wants more rental property, why not build some, instead of telling other people what to do with their property? If I own five houses and want to leave them all vacant, provided I maintain them and pay the taxes, whose business is it?

I'll be the devil's advocate here - who wants to live in a ghost neighbourhood?

It's hard to rent in Toronto now - vacancy rates are low, and rents have increased a lot in the past few years. If the City is able to increase supply through incentives (carrots or sticks), then why not? Having the City build more rental stock sounds more drastic than altering the bylaws (not that the TCHC is the greatest landlord anyhow). Some cities tax vacant properties more heavily. I wish we could do that here - there are a few retail units in Cabbagetown that seem to sit vacant forever, partly due to the landlord's preference rather than a true lack of demand.
 

Admiral Beez

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- there are a few retail units in Cabbagetown that seem to sit vacant forever, partly due to the landlord's preference rather than a true lack of demand.
I've been wondering about this place, #18 Gifford St. It's been vacant for years AFAIK.

18GiffordSt-300x279.jpg
 

Admiral Beez

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That's an odd one. Old church? Supersized arts and crafts house? Combined semis? Purpose built apartment?
Apparently there was a fire years ago, and then the owner's kids squabbled over it, or something like that. It's a full on apartment building with dedicated corridors, etc., but is entirely vacant. You could likely house 10 families in there.
 

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