A Toronto condo is the first in Canada to enter into an agreement with the Airbnb management to regulate short-term rentals in condominiums. The “Friendly Buildings Program” is a program currently up and running in the US. It’s goal is to increase the comfort level of other condo owners and the condo board with regards hosts and guests in a condo building. This program will feature among other critera increased security as well as a 5 per cent income split for the condo corporations. To alleviate the concern of added wear and tear on the building and its amenities the host must pay an additional $50 per month for upkeep. Read more in this article on the CBC or on the Airbnb website.
