Kristyn Wong-Tam on Toronto's Tight Vacancy Rate and Short-Term Rentals

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Kristyn Wong-Tam on Toronto’s Tight Vacancy Rate and Short-Term Rentals

Today is the final day for the City of Toronto survey on short-term rentals.

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Kristyn Wong-Tam at Toronto City Hall. Image via Twitter.

“The vacancy rates in Toronto for families who are looking for permanent rental homes, long-term rentals, is very, very tight,” she said. “There is simply not enough inventory. If we lose 10,000, 20,000 units…to short-term rentals it means that families trying to live in the downtown core…will not have those options.”

— Councillor Kristyn Wong-Tam (Ward 27, Centre-Rosedale), speaking to the CBC on April 13 about regulating short-term rentals in the city, such as Airbnb. Many are concerned that short-term rentals are taking affordable rental units off the market at a time when Toronto vacancies are extremely tight. The rental vacancy rate is currently at 1.3 per cent—a historic low. Today is the final day for the City of Toronto survey on short-term rentals. Watch the video from the discussion at City Hall last week. 

 

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