Condos Allowing Short Term Rentals DT Core
Tuesday Oct 27th, 2020Share
People who are interested in living in or investing in DT condos are often asking which building do, and which once don’t allow short term rentals. The truth is the majority of the condos don’t permit short term rentals and it is stated in their bylaws, of the buildings who are not allowing them there are some who enforce it strictly, and others that don’t.
City of Toronto at the end of 2019 implemented new rules and regulations for short term rentals, there are certain rules that pretty much eliminate (in theory) condos from the short term rental pool such as:
- The unit must be a principal residence of the owner
- Since the unit must be a principal residence of the owner, one can’t legally run more than one short term rental
- The unit can be used for short term rental up to 180 days per year
The new regulations came into effect in the second half of 2019, March 2020 covid hit and shut down all the travel.
It will be very interesting to see how the municipality is able to enforce the rules in the future, what effect it has on the business model, how many units are turned into long term rental or sold to owner occupiers.
We hear many complaints from people who do not want to live next to a hotel, and I am curious to see if the buildings which allowed short term rentals to date are turned back into what their purpose originally was, a place to live for owners and tenants alike.
Without wasting anymore time here is a list of known condominiums allowing short term rentals.
300 Front Street West
560 Front Street West
101 Peter Street
210 Victoria Street
10 Capreol Court
15 & 21 Iceboat Terrace
35 Mariner Terrace
120 Homewood Avenue
168 Simcoe Street
199 Richmond Street West
55 @ 65 Bremner Blvd.
75 & 85 Queens Wharf Blvd (stopped allowing short term rental as of May 2020).
50 Bruyeres Mews.
209, 215 & 219 Fort York Blvd.
8 Mercer Street.
38 Dan Leckie Way.
12 & 14 York Street (ICE Condos)
We will be the first to admit that the list is likely incomplete, certain condos may be missing, some of the buildings may have by-laws prohibiting the short-term rentals but the management doesn’t enforce them, others may have been allowing them in the past but started enforcing them recently.
If you are reading this and have noticed any errors please kindly let us know and we will update the list.