Toronto Rental Cost (& AirBnB) Issues

[artyboy123]

"Landlords and tenants trying to resolve disputes in Ontario say the province’s landlord and tenant board is failing them, plagued by excruciatingly long delays. The National’s Adrienne Arsenault explains the problems with the system and why some say it’s making Canada’s housing crisis worse."

 

[christiesplits]

Toronto college pairs international students with seniors to help ease the housing crunch​

Humber College says over 500 students already signed up on the housing platform

https://www.cbc.ca/news/canada/toronto/humber-students-seniors-1.6963373

 

[DSC]

Interesting stats here on places like 300 Front West and the infamous ICE. https://www.thestar.com/real-estate...cle_e23188c3-2999-5d77-b9b3-4dd2e374d0fc.html

 

[artyboy123]

Short-Term Rental Implementation Update

Provide feedback on the bylaw and your experience with the implementation through an online survey or at a virtual meeting on October 26. The City is evaluating the implementation of the short-term rental bylaw to examine its progress and identify areas for improvement. Get involved at public...

www.toronto.ca

I went to this last night and have to say most of the people showed up were "Airbnb operators/Airbnb property managers"

I have attached the slides down below

 

[artyboy123]

 

[artyboy123]

 

[artyboy123]

 

[christiesplits]

Trudeau government to crack down on people who profit from short-term rentals like Airbnb: source​

A narrowly focused fall fiscal update coming Tuesday from federal Finance Minister Chrystia Freeland includes a measure designed to make it less lucrative for people to use their properties as short-term rentals, the Star has learned.

Property owners in areas that already restrict short-term rentals will no long be able to claim their rental expenses against the income they make, a senior federal official told the Star, in a bid to take away the incentive to flout local restrictions and list properties on platforms like Airbnb anyway.

Trudeau government to crack down on people who profit from short-term rentals like Airbnb: source

Tuesday’s federal fiscal update is expected to prevent property owners from claiming rental expenses in a bid to quash the incentive to flout local short-term rental restrictions.

www.thestar.com

 

[christiesplits]

B.C. short-term rental restrictions reducing rents, saving tenants millions: study​

B.C. short-term rental restrictions reducing rents, saving tenants millions: study

VANCOUVER - Crackdowns on short-term rentals in British Columbia have effectively reduced rents by 5.7 per cent, saving tenants more than $600 million last year, says a report led by

www.thestar.com

 

[evandyk]

I've seen some twitter criticism of that report suggesting that although there was indeed a drop in rent of that magnitude, the report (which was paid for by Fair BnB) attributes the entire drop to the change in STR rules, pretending that larger factors (like reduced number of foreign students and greater housing completions) don't account for most of the drop.

 

[picard102]

Well we're only seeing the results of reduced foreign students right now, not as the report covers "last year". So it wouldn't factor in the drop "last year".

 

[AlbertC]

Will just slot this here:

Ontario city cracking down on ‘slum’ landlords who ‘ruin neighbourhoods​

The mayor of an Ontario city struggling with rental and renovation problems says the rollout of a strict new landlord licensing pilot scheme has been a “resounding success” in the parts of the city it has been applied, just under half a year after it was launched.

Early in the year, Brampton launched — and then after backlash, relaunched — a program to make small landlords in some of the city’s wards obtain business licences and agree to enhanced scrutiny.

The city’s Residential Rental Licensing pilot program makes landlords of between one and four units sign up for licences and submit to inspections.

As of Sept. 16, Brampton said 2,200 licences have been issued in the city and 4,700 inspections have taken place. Those inspections have been 611 penalties handed out, with fines totalling $83,500.

Ontario city cracking down on ‘slum’ landlords who ‘ruin neighbourhoods’ | Globalnews.ca

Early in the year, Brampton launched a program to make small landlords in some of the city's wards obtain business licences and agree to enhanced scrutiny.

globalnews.ca

 

[Admiral Beez]

Received this in the mail today. $8,000 a month for a three bedroom rental?! How is this helping to house Torontonians who cannot afford to purchase a home?

 

[Jonny5]

Received this in the mail today. $8,000 a month for a three bedroom rental?! How is this helping to house Torontonians who cannot afford to purchase a home?

View attachment 597788

That creates a bizarre scenario where for a family renting two apartments in the building would be cheaper than one.
I could even see this happening where you have one apartment and then another for your teenage kids.
My best guess is those 3 bedroom apartments left are "premium" rentals on the top floor, corner units, etc.

 

[artyboy123]

That creates a bizarre scenario where for a family renting two apartments in the building would be cheaper than one.
I could even see this happening where you have one apartment and then another for your teenage kids.
My best guess is those 3 bedroom apartments left are "premium" rentals on the top floor, corner units, etc.

That takes the whole meaning of "moving out but still live across from parents"

Instead this could be either downstairs or upstairs in the hi rise setting.