Toronto Regulates Short-Term Condo Rentals

Toronto City Council has implemented a new by-law regulating short-term rentals in the city effective June 1, 2018. The regulations restrict investor-owned units from being rented for short-term use, and individuals not legally living in a residential property will now be prohibited from legally renting it for less than 28 consecutive days. Short-term rentals of an entire unit will be limited to a maximum of 180 nights per year, and individuals offering short-term rentals will be required to sign up with the City of Toronto’s short-term rental registry. Violations of the rules could result in a fine of up to $100,000. Toronto’s approach to short-term rentals is less aggressive than other jurisdictions and allows condo corporations the ability to make their own rules regarding short-term rentals while protecting housing stock and property owners.