Hello, i am planning on investing in a condo downtown toronto. Would anyone please share any airbnb friendly condos?
What might be friendly today, might not be tomorrow. I would check the minutes of board meetings of any premises you are purchasing and check any written agreements you need to comply with and get a professional broker to help you, not ask an Internet forum. I say this with the best of intentions to help you, with a purchase of at least a few hundred thousand dollars, business acumen is required, not a quick google. It will save you a lot of heart ache.
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Thanks Emily! I will definitely take your advice
@Host7, I live in Toronto, as well. I agree with everything that @Emily wrote.
In addition, because the City of Toronto is undergoing research (over the next little while) which will affect the rules and regulations to do with Airbnb/home sharing as well as registration etc. As a result, you may want to wait until the final report is out before buying anything so that you will know how these might potentially impact you. They’re currently in the second round of meetings/discussions about these and we anticipate rulings later this fall/before the end of the year.