Short-term rentals are not legally permitted in Toronto.
Regulations for short-term rentals are pending appeal decision by the Local Planning Appeal Tribunal (LPAT).
Once approved by the LPAT, the following short-term rental regulations will come into effect, subject to the results of the hearing. Prospective hosts for popular short-term rental service providers, such as Airbnb, will be given advance notice to submit applications licence/registration so that the 4 per cent tax can be implemented. The details on the 4 per cent will become available if and once the approval goes through.
Below are the proposed regulations as per the City of Toronto:
- Short-term rentals are permitted across the city in all housing types in residential and the residential component of mixed-use zones.
- People can host short-term rentals in their principal residence only – both homeowners and tenants can participate.
- People can rent up to three bedrooms or entire residence.
- People who live in secondary suites can also participate, as long as the secondary suite is their principal residence.
- An entire home can be rented as a short-term rental if owner/tenant is away – to a maximum of 180 nights per year.
- People who rent their homes short term must register with the City and pay $50.
- Companies such as Airbnb must pay a one-time licence application fee of $5,000 plus $1 for each night booked through the company.
- People doing short-term rentals must pay a 4 per cent Municipal Accommodation Tax (MAT) on all rentals that are less than 28 consecutive days.
- Companies such as Airbnb can enter into voluntary agreements to collect the MAT on behalf of those associated with their company.
Toronto Condos that currently allow short-term rentals:
REVE is a Tridel development between Bathurst and Portland with a 14-storey building. The units at Reve range from one- to three bedrooms, with most featuring hardwood floors, tall floor-to-ceiling windows, ample counter space and breathtaking views of the city and lake. Found within Toronto’s Entertainment District, you're only a few minutes away from Rogers Centre, CN Tower and the Metro Toronto Convention Centre. Also nearby are various shops, restaurants, bars and clubs along King West.
AQUARIUS AT WATERPARK CITY is located on Fort York Boulevard at Angelique Street. The building features a 38-storey skyscraper which sits on top of a seven-storey podium. It is Lanterra Development’s first building that's part of the Waterpark City project. Aquarius at Waterpark City features large one and two-bedroom units with bright open-concept layouts with tall floor-to-ceiling windows and engineered hardwood flooring and modern kitchens and bathrooms. Residents have nearby access to a mix of lush outdoor green spaces and well-known cultural attractions such as the Harbourfront Centre, Molson Canadian Amphitheatre, and the CNE.
NEPTUNE I & NEPTUNE II, also by Lanterra Developments and situated in the Fort York area, Neptune I and Neptune II are a two residential towers in the community featuring a shared podium and elegant lobby. There are 861 suites, ranging in size and style from bachelor apartments to two-bedrooms plus den. They are recognized for their stunning views of the Harbourfront and downtown skyline, with bright floor-to-ceiling windows surrounding open concept kitchens and living areas. Interior finishes will capture your eyes with the engineered hardwood floors, stainless steel appliances and kitchen islands featuring granite countertops.
ICE I & ICE II at York Centre are two high-rise towers in Toronto. Completed in 2014 and 2015, they stand at 664 feet and 768 feet, respectively, with 57 and 67 floors. Together, they comprise ofmore than 1,300 suites, 700 parking spaces, and 1,000,000 square feet of floor area. The taller tower is the 9th tallest building in Toronto and 12th tallest building in Canada.
LOCAL AT FORT YORK is a condo project by Onni Group. It features a 13-storey building located on Bruyeres Mews, South of Fort York Blvd. The building features an executive concierge and a rooftop terrace with lounge, dining and BBQ areas. Residents of Local can enjoy the fully-equipped fitness centre in addition to rooftop urban agricultural garden. Suites range in size from 375 to 1,400 sqft.
QUARTZ & SPECTRA CONDOS is in the CityPlace, near Bathurst Street and Fort York Boulevard, standing at 39- and 41-stories, respectively. Combined with Spectra, the buildings feature 943 suites. Sizes ranges from bachelor to three-bedroom suites. Suites have ample natural lighting with beautiful views and private balconies. The amenities are comparable to other downtown Toronto condos.
MAPLE LEAF CONDOS at York St. and Bremner Blvd. is an award-winning building that is a mixed-use complex with residences, offices and retail space, restaurants, a grocery store and Le Germain boutique hotel. The two-tower residential portion was completed in 2010 by Lanterra Developments. Suites feature large windows that allow a ton of natural light, stylish finishes, balconies and great views.
STUIOD ON RICHMOND was built in 2016 by Aspen Ridge Homes at Queen St West & McCaul St. Studio on Richmond. Studio is a high-rise condo at 199 Richmond St W featuring suites from 414 to 3,258 sqft. There are 317 units with varying exposures and layouts across 31 floors.
THE VERVE CONDOS on Homewood Avenue off Wellesley Street East is a unique residence featuring condos and urban lofts. The site was previously home to The Princess Margaret Hospital, now located on University Avenue. The Verve is a 40-storey building constructed of glass and offers 444 suites ranging from one- to two-bedroom plus den suites, in addition to the two-storey lofts. The units feature open-concept layouts, floor-to-ceiling windows, engineered hardwood floors, modern kitchens and private terraces.
HARBOUR VIEW ESTATES II includes towers overlooking the waterfront, built in 2005 and 2006. Surrounded by courtyard gardens, water features and panoramic, unobstructed views, Harbour View Estates II soars at 49-storeys as one of the tallest in all of CityPlace. Suites are a bit larger than average. It's location is close to the Financial district, Rogers Centre and King West.
PARADE I & PARADE II was built in 2011 and is made up of podium, mid-rise and tower suites. The buildings feature two majestic towers joined by the Skybridge that make up Concord Adex's Parade residences. The Parade towers are a true icon of this neighbourhood. Suites range from studios to two storey, three bedroom plus townhomes.