Loading articles...

Toronto condo first to strike unique Airbnb deal

Last Updated Oct 25, 2017 at 6:37 pm EDT

It’s the first of its kind in Canada. A Toronto condominium has signed an agreement with Airbnb.

Neptune Waterpark Condos, located in the Fort York historical district, has signed on to the Friendly Buildings Program which helps bring hosts, residents and landlords together with Airbnb to find home sharing solutions.

The deal enables building management to access a personal dashboard which shows which units are hosting, how many guests are staying and when they are scheduled to come and go. Buildings can set up things such as pet control and parking guidelines for Airbnb guests.

Each building in the program works with Airbnb to decide what percentage of each booking they will receive, anywhere between five and 15 per cent.

The deal is the first of its kind in Canada, having already been launched in several cities in the United States.

The move comes as the city continues to debate short term rentals, having conducted public consultations on the issue last month.

Neptune Condos Board member Nick Bednarz said the alliance would aid accountability.

“In my opinion, either you do something to grab control or do nothing and let it run rampant,” he said. “If there’s ever an issue (and) we have to call police we know who was there.”

Bednarz disputes the argument that his condo will turn into a de facto hotel. He says most of the owners in the building are renting rooms out — not the entire unit — as a means to supplement their income and essentially afford to live here.

Meanwhile, the city is currently working on their own regulations for Airbnb in Toronto, which could include licensing Airbnb, and banning people from listing units where the don’t actually live.

Mayor Tory says they’ll have to consider this new partnership in their recommendations for the new rules which will be brought to December’s council meeting.