Toronto votes to regulate and restrict short-term rentals

Toronto

THE Toronto city council on Thursday approved regulations governing short-term rentals, requiring operators to register with the city and restricting the types of properties that Canadian homeowners can rent as it grapples with a growing affordability crisis.

Under the new rules, homeowners will only be allowed to rent their principal residence on homesharing sites such as Airbnb and Expedia's Homeaway, something which the city hopes will lead to more units being available for long-term rentals.