Can you Airbnb a rental property in Toronto?
Yes, you can Airbnb a rental property in Toronto, but there are rules and regulations that you must follow. As a host, you need to be aware of the laws that govern short-term rentals in the city and ensure that you are in compliance with them.
1. Do I need a license to Airbnb my rental property in Toronto?
Yes, as of December 2019, all short-term rental hosts in Toronto are required to obtain a license from the city in order to operate legally.
2. Are there any restrictions on the number of nights I can rent out my property on Airbnb in Toronto?
Yes, hosts in Toronto are only allowed to rent out their primary residence on Airbnb for a maximum of 180 nights per year.
3. Can I rent out a secondary unit on my property on Airbnb in Toronto?
No, secondary suites, such as basement apartments, cannot be rented out on a short-term basis in Toronto unless they are the host’s primary residence.
4. Do I need permission from my landlord to Airbnb my rental property in Toronto?
Yes, if you are renting the property yourself, you must obtain permission from your landlord before listing it on Airbnb.
5. Are there any taxes that I need to pay as an Airbnb host in Toronto?
Yes, Airbnb hosts in Toronto are required to collect and remit a Municipal Accommodation Tax (MAT) of 4% on all bookings less than 28 days in length.
6. Can I face any penalties for not following the rules and regulations for Airbnb in Toronto?
Yes, hosts who do not comply with the regulations for short-term rentals in Toronto can face fines of up to $100,000 for individuals and $500,000 for corporations.
7. Can I list multiple properties on Airbnb in Toronto?
Yes, you can list multiple properties on Airbnb in Toronto as long as they are all in compliance with the city’s regulations for short-term rentals.
8. Do I need insurance to Airbnb my rental property in Toronto?
It is highly recommended that Airbnb hosts in Toronto have insurance coverage that includes short-term rental activities to protect themselves against any potential liabilities.
9. Can I rent out my condo on Airbnb in Toronto?
Yes, you can rent out your condo on Airbnb in Toronto, but you must ensure that you are in compliance with your building’s rules and regulations regarding short-term rentals.
10. Can I sublet my rental property on Airbnb in Toronto?
Subletting your rental property on Airbnb in Toronto is generally not allowed unless you have permission from your landlord or property manager.
11. Can I charge a security deposit to guests on Airbnb in Toronto?
Yes, Airbnb hosts in Toronto are allowed to charge a security deposit to guests to cover any damages that may occur during their stay.
12. Do I need to register my rental property with the city to Airbnb it in Toronto?
Yes, all short-term rental hosts in Toronto are required to register their properties with the city to obtain a license and operate legally on platforms like Airbnb.