Is it legal to rent a house without a broker license in downtown Toronto?

In downtown Toronto, as well as in the rest of Ontario, individuals are allowed to rent out their own properties without the need for a broker license. The Residential Tenancies Act (RTA) governs landlord and tenant relations and does not require landlords to hold a broker license to lease their properties. However, landlords must comply with the RTA and other local regulations concerning rental agreements, tenant rights, and property standards. If a property owner chooses to hire a third party to manage the rental process, that party must be a licensed real estate broker or salesperson if they are conducting activities that fall under the definition of trading in real estate, as per the Real Estate and Business Brokers Act (REBBA).

Trivia: Toronto’s real estate market is one of the most dynamic in Canada, with a high demand for rental properties due to its status as a major hub for finance, technology, and culture. This makes the city a hotspot for both renters and investors.