The City of Toronto new Airbnb regulations designed to ensure long-term housing supply in the city were not properly researched by the city staff.
The RTA does not apply to tennants/guests who share a kitchen and bathroom with the owner/tennant.
Most owners on Airbnb are renting rooms in their principal residence and share kitchen and bathroom with the guests.
So, these regulations are dealing with only part of the problem. Owners can still get more money renting on Airbnb than on other platforms for the residents of Toronto, such as Craigslist, Viewit, or Kijiji.
There is the RTA loophole when it comes to long-term housing in Toronto, one year or more lease, because the Province came up with the standard lease agreement starting May 1st.
So, if you going to rent a new place the landlord must to give you the standard lease agreement, meaning that there can't be any verbal agreement resulting in misunderstanding, the SLA tells landlords what they can and can't do.
For instance, the landlord's legal name has to be there along with address for notices from courts. They have to write everything down what they are willing to pay for or not. In making the enforcement of the smoking rules they have to follow the human rights laws since many smoke or medicste themselves due to health related issues.
The terms that conflict with the RTA rules are not enforceable, thus having a guest or a pet is not prohibited by the RTA, neither is the right for the tenant to rent their couch or spare room on Airbnb.
It is a loophole but that is good for small people but bad for the person looking for the long-term residence. It is the double edge sword since it potentially removes housing from the long-term rentals. (Read actual document for details.)
The landlord retains the right to consult with their legal council before accepting the terms. The landlord has the right to issue the discounts. The landlords now have to pay the interest on the last month rent. Harassment is not permitted by the either parties. So, it is pretty air tight and we'll crafted provincial act.
