Toronto Rental Cost (& AirBnB) Issues

[Midtown Urbanist]

Rents could drop 5 per cent — and vacancy rates might climb — in Toronto this year

Even under COVID-19 conditions, Toronto is headed for a large number of condo completions that should spell relief to renters.

www.thestar.com

 

[Richard White]

5 percent isn't much of a rent drop. That's anywhere from $100 to $150.

 

[Admiral Beez]

5 percent isn't much of a rent drop. That's anywhere from $100 to $150.

But a 5 percent increase is often considered exploitative.

 

[christiesplits]

Airbnb asking federal government for bailout money.

Airbnb asks government to bail out hosts in Canada - ThinkPol

Airbnb spent the last decade ruthlessly going after all levels of government to remove or water down housing rules that stand in the way of long term rental units being turned into irregular hotels. Airbnb hosts labelled government attempts to regulate short term rentals as government trampling...

thinkpol.ca

 

[lenaitch]

Airbnb asking federal government for bailout money.

Airbnb asks government to bail out hosts in Canada - ThinkPol

Airbnb spent the last decade ruthlessly going after all levels of government to remove or water down housing rules that stand in the way of long term rental units being turned into irregular hotels. Airbnb hosts labelled government attempts to regulate short term rentals as government trampling...

thinkpol.ca

Well, I guess if you don't shoot you can't score. Hopefully, this will end up in the government round file.

 

[Admiral Beez]

https://twitter.com/x/status/1245848374831714305

 

[SunriseChampion]

Piece of shit that Bezos is....asking people for donations (!) to help pay employees still working their bonuses.

That's the entitlement issue we're dealing with.

Airbnb....Bezos....same trash. Dispose of ....and carry on.

 

[CityStay]

Short. Succinct. Sweet!

“No” – Government dismisses Airbnb request to bail out hosts in Canada with one word - ThinkPol

“No.” That’s the Government of Canada’s one-word response to Airbnb’s request to bail out hosts who are struggling to survive amid cancellations brought on by the COVID-19 pandemic. Parliamentary Secretary for Housing and Member of Parliament for Spadina—Fort York Adam Vaughan tweeted out the...

thinkpol.ca

 

[salsa]

Short. Succinct. Sweet!

“No” – Government dismisses Airbnb request to bail out hosts in Canada with one word - ThinkPol

“No.” That’s the Government of Canada’s one-word response to Airbnb’s request to bail out hosts who are struggling to survive amid cancellations brought on by the COVID-19 pandemic. Parliamentary Secretary for Housing and Member of Parliament for Spadina—Fort York Adam Vaughan tweeted out the...

thinkpol.ca

The comments section is great too.

 

[christiesplits]

Another huge blow to Airbnb in Ontario:

https://twitter.com/x/status/1247165688164126721

 

[innsertnamehere]

Hopefully with this forced eviction of most AirBnB properties Toronto can have it's by-law in force for their inevitable return in a few months to clamp down on them.

 

[Richard White]

I know of a STR management company at my work that is going under. They do not have money to pay the rent and as such the owners took back their units. There is a second one there as well that is not going under but they are losing units.

That said, the STR business is tanking and I do not think it will ever fully recover at least in Toronto now that condos are starting to see a life without Airbnb being involved.

Now that most STRs are being sold off, less and less units are being held by Short Term Rental owners making it easier to change their declarations to ban them.

 

[tripwire]

How are they really going to enforce that STR is "only provided to individuals who are in need...." I mean theoretically, everyone renting is "in need".

The hosts may not be able to recover, but I'm sure that AirBnB will. Unlike WeWorks, they really don't own/lease most of the property. Once things get back to normal, people will flock by to host. Perhaps not as much as before, as the travel/tourism industry is going to need a bit longer to recover.

 

[Richard White]

The hosts may not be able to recover, but I'm sure that AirBnB will. Unlike WeWorks, they really don't own/lease most of the property. Once things get back to normal, people will flock by to host. Perhaps not as much as before, as the travel/tourism industry is going to need a bit longer to recover.

Actually, STR management companies do lease the properties from the owners who are now asking them to be leased out long term to actual tenants. While Airbnb may not lease properties, the people that put them on various platforms on behalf of the owners do.

These are units that will no longer be available to rent short term even after the pandemic.

 

[Richard White]

How are they really going to enforce that STR is "only provided to individuals who are in need...." I mean theoretically, everyone renting is "in need".

As someone who works in a condo doing security and knows a corporate rental company doing just this it is easily enforceable. If we see someone who is staying in the building that is 19 years old with their boyfriend looking like they are coming from the gym we can question that and ask them to leave.

Their booking would be canceled by default if they are not a nurse, doctor or emergency services worker like Fire, Paramedics or Police. Homeless people are not the people they are referring to in this case.

Nurses, Doctors, Firefighters and Police officials are in need. These are the people that are working to keep us safe and are at high risk of being infected. In the case of Toronto Fire Services, they sleep in close quarters at the stations and as such need their own accommodations to prevent infection.

311 could also get involved as it would be in breach of an emergency order.