Airbnb, the online marketplace for hospitality services, first
began to operate in Toronto around 2010. It started with less than
100 listings over all, but has grown on an exponential scale -
listings have roughly doubled each year, reaching over 12,000 in
2016.
Airbnb, and other similar businesses offering "Short Term
Rentals", are not presently regulated in any significant way
in the Toronto area, despite the fact that its main competitors -
hotels, and bed and breakfasts ("B&Bs") - are
regulated. However, the City of Toronto is moving towards creating
regulations for Airbnb, with recommendations released in June
2017.
A less publicized grey area is the home insurance implications
of a homeowner using their residence for Airbnb listings. Short
Term Rentals of a residence are inconsistent with most standard
home insurance policies.
