Is it legal to rent out a residential property without a permit in downtown Toronto?

In downtown Toronto, the legality of renting out a residential property without a permit primarily depends on the nature of the rental. For long-term rentals, there is generally no requirement to obtain a specific rental permit from the city. However, Toronto has specific regulations regarding short-term rentals, commonly facilitated through platforms like Airbnb. According to Toronto’s Municipal Code Chapter 547, Licensing and Registration of Short-Term Rentals, anyone operating a short-term rental in Toronto must register with the city and pay a Municipal Accommodation Tax. This regulation ensures that short-term rentals meet safety, zoning, and tax regulations. Failure to comply can lead to fines and other legal consequences.

Trivia: Did you know that Toronto’s regulation on short-term rentals was significantly influenced by concerns over housing availability and affordability? The city aims to balance the benefits of tourism with the needs of its residents through these regulations.