NEW RULES COMING FOR TORONTO AIRBNB

The City of Toronto is a step closer to regulating Airbnb.

The city’s executive committee has approved a plan asking staff to draft new guidelines for the short-term rental market. It’s an issue that’s already caused some municipalities in the U-S to act.

Santa Monica, California, drew up Airbnb regulations last year specifying the property being rented be a principal residence.

Airbnb says 80% of its Toronto hosts already fit that profile but is willing to work with the city to draft the new rules.

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