Toronto to move forward with proposed rules on Airbnb-style rentals

Toronto’s proposed registration and licensing system for Airbnb-style short-term rentals will proceed to public consultations after Mayor John Tory’s executive committee approved city staff’s draft plan on Monday night.By regulating the burgeoning short-term rental market, Toronto will demonstrate it is a forward-looking, innovative city that isn’t trying to turn back the hands of time, Tory said Monday.“We have to deal with these emerging technology issues as they change the way we do business and live our lives.” City staff will submit a final set of proposals to council later this year. After months of research and stakeholder input, city staff produced a report proposing that short-term rentals be legal for up to three rooms or an entire home in Toronto as long as it is a person’s principal residence.Article Continued BelowThe “One host, one home” rule has been proposed or adopted in several jurisdictions, including New York City, San Francisco and Vancouver. The intent is to discourage commercial operators from offering multiple listings, a practice that has been blamed for driving up rents and pushing out long-term tenants.Property owners or tenants hosting short-term rentals will have to register with the city, pay an annual fee and remit a tourist tax at a rate still to be determined. The city’s report defines a short-term rental as one lasting up to 28 days.Read more: