12 Jun AirBnB Is Being Regulated, How Did It Impact Toronto Real Estate Prices?
Original article via Better Dwelling. Click here to read.
Eight months after New York City outright banned short-term rentals like AirBnB, the City of Toronto has decided to regulate it. The new regulations are largely bureaucratic, such as licensing short-term rental companies like AirBnB, and starting a registry of short-term rental units. The biggest change however is going to be the banning of people listings units where they don’t live. Turns out some enterprising entrepreneurs may have been buying homes to operate as full-time rental suites.
Sure that sounds bad, but how many people are really doing that? Is the number large enough to even impact homeownership and rental rates? Let’s dive through some of AirBnB’s data points.