Mayor John Tory’s executive committee voted Monday to approve a draft plan that would implement a “One host, one home” rule for short-term rentals. It would also require hosts to register with the city and pay fees. Airbnb’s Chris Lehane welcomed Toronto’s proposed regulations for short-term rentals, saying the growing industry should pay its “fair share of taxes.” 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.
The “One host, one home” rule has been proposed or adopted in several jurisdictions, including […]