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Be very careful. Just because a HOA allows short-term rentals now doesnβt mean it will stay that way. All it takes is one incident (and one vote) and you could find yourself banned from renting for any period for under 6-12 months. If you would still make the investment under those conditions, then by all means, go for it. But Toronto is a city where there are discussions of short-term rentals as being a problem, so even if you find a HOA that allows it for now, the city can impose prohibitions in the future.