The Rise of Online Short-Term Rental Platforms

The rise of online short-term rental platforms, like Airbnb, has presented challenges for condominium corporations. Some owners and boards express concerns over the constant flow of guests, safety issues, increased wear and tear on common elements, and interference with residents' quiet enjoyment. On the other hand, some owners see short-term rentals as a source of income. Condominium declarations may permit or restrict short-term rentals, leading to different challenges for boards. To address the issue, the City of Toronto has approved short-term rental regulations, allowing short-term rentals in a person's principal residence for up to 180 nights per year. Owners or tenants operating short-term rentals must register and adhere to specific regulations. The article also suggests creative options, such as the Airbnb Friendly Building Program, for managing short-term rentals in condominiums.