Fines of up to $100,000 are now in place for operators that do not comply with the now in place Short Term Rental rules.
But what is defined as a Short Term Rental? What extra taxes are now in place? What are the penalties? If you book accommodation on behalf of your company please read on.
On 1 Jan 2021 the City of Toronto implemented its enforcement of the Short Term Rental regulations. By definition a short term rental operator is:
Short-term rental operators are people renting their homes or rooms on a short-term basis, for a period of less than 28 consecutive days.
So any employee that you are bringing into Toronto and they are staying for less than 28 consecutive days, then these new rules apply to you and your company. While most of the rules and fines apply to the operator, as a guest you should notice the following changes this year:
The city has implemented a policy of fining operators for non compliance, so while the onus is on the operator to comply, it is not be a great look for companies if they are caught booking employees into non compliant operators.
While Covid 19 has significantly diminished the amount of Short Term Rental operators in Toronto there is still a significant amount of Short Term Rentals in Toronto so "it pays to know your accommodation supplier".
For questions about any short term rental regulations feel free to reach out to SVS Relo on