The City of Toronto has announced it will launch a new online registration system for short-term rental operators who are renting their homes on a short-term basis for a period of less than 28 consecutive days.
Beginning September 10, 2020, short-term rental operators will need to start registering with the City in order to operate in Toronto. People who are currently renting their home on a short-term basis, or planning to do so, must be registered by December 31, 2020. After this date, all new operators will be able to register on an ongoing basis and must register prior to short-term renting their homes.
Registration and payment for short-term rentals need to be completed online. You can learn about the rules at toronto.ca/ShortTermRentals.
Under the bylaws for short-term rentals:
- - You can short-term rent your principal residence only. This is the residence where you live and the address you use for bills, identification, taxes and insurance.
- - You can be a homeowner or a renter in any housing type, for example house, apartment or condominium.
- - You can rent up to three bedrooms in your principal residence for an unlimited number of nights per year or the entire home for a maximum of 180 nights per year.
- - You can host a short-term rental in a secondary suite (for example a basement apartment) or a laneway suite, as long as the suite is your principal residence.
Short-term rentals must:
- - Be a registered operator
- - Include your City-issued registration number in all advertisements and listings.
Registered short-term rental operators will need to start collecting and remitting the four per cent Municipal Accommodation Tax (MAT) on a quarterly basis starting January 1, 2021. More information on how to collect and make the MAT payments will be provided in fall 2020.
The City will also require short-term rental companies to obtain a licence from the City in order to carry on business in Toronto. A short-term rental company is any company facilitating or brokering short-term rental reservations online and receiving payment for this service, such as Airbnb, Expedia and Booking.com. The City is currently working with short-term rental companies on the licensing process and more information is available on the City’s website.
More information about short-term rentals is available at: toronto.ca/ShortTermRentals
News Release available here: https://www.toronto.ca/news/city-of-toronto-registration-of-short-term-rentals-to-launch-september-10/