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The Airbnb Effect

Toronto Condo News
Publication date:
February 28, 2018
Article Summary: 

Over 6,000 condos and apartments in the Greater Toronto Area are being rented out on a short-term basis through websites like Airbnb, without the knowledge of condo corporations, insurance companies, municipal officials, and tax collectors. These properties are not allowed to be rented out for periods of less than 30 days, and often fail to meet regulatory and safety requirements, and avoid paying taxes on income and commercial property taxes. Additionally, homeowners insurance does not cover losses or damages resulting from the use of a home as a hotel.


Airbnb, short-term rentals, condo corporations, regulatory requirements, safety requirements, taxes, insurance, commercial property taxes, homeowners insurance, Greater Toronto Area.

Source Citation: 
Toronto Condo News
The Airbnb Effect
February 28, 2018
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