top of page
< Back
Category:

Suite-Specifics

Save this article  > 

The Airbnb Effect

Author: 
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.

Keywords: 

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
https://tocondonews.com/archives/the-airbnb-effect/
Did you find this article useful? 
Your feedback is important not only to us, but to all the other key players in the condo industry.  Help us by letting us know if this article is relevant and useful.  This will help us prioritize articles that provide helpful guidance to other key players like you. 

Please login to use this feature.

bottom of page