The rules allow the rental of a principal residence only and homeowners won’t be allowed to list secondary suites, such as a basement apartment, for short-term rental.
The city will create a registry of short-term rental landlords who would have to declare that their rental property was their principle residence and pay an annual fee of $50.
It says more than half of all Airbnb listings are in the city’s downtown, and the vast majority — over 80 per cent — accept only short-term bookings.
Fairbnb, a coalition founded by a Toronto-area hospitality workers’ union to advocate for Airbnb legislation, called for rental units to be preserved for long-term renters, not vacation rentals.