The province of Ontario is still working on implementing regulations surrounding short-term renting (less than 28 days). The province does, however, have a set of guidelines and recommendations, but these are for municipalities to help them decide on how they may want to regulate short-term renting. To view these guidance materials, click here.
At the moment, we know that the Toronto City Council has approved a number of regulations. However, these were appealed to The Local Planning Appeal Tribunal causing a delay in the implementation of these bylaws for another year until August of 2019, whereby a second hearing will take place. Read more on the regulations surrounding Airbnb in Toronto here.
Some of the regulations discussed would require short-term rental companies, such as Airbnb, to obtain a license and renters to register with the city. They would also require renters to pay a proposed Municipal Accommodation Tax of 4%. The key provisions of the regulations would prohibit people from listing their apartment or house for short-term rental unless it is their principal residence. In addition, secondary suites, mainly bedrooms and basement apartments, would not be allowed to be listed for rent, unless it was a tenant’s primary residence and it was the tenant listing the unit.
Luckey is committed to regularly informing its property owners of any and all changes relating to short-term rental regulations, to make their renting experience as simple and easy as possible.
We recommend that you do your own research as this article isn’t comprehensive, and doesn’t constitute legal or tax advice. Also, as we don’t update this article in real time, please check each source and make sure that the information provided hasn’t recently changed.