Condos rented by the night raise safety concerns
By Canadian SecurityNews Industry News
There are 6,000 condo and apartment units in the Greater Toronto Area being rented out by the night under the radar from condo corporation, insurance, licencing and zoning officials, according to the Greater Toronto Hotel Association (GTHA).
In a story on 680news.com, an official with the GTHA notes that this type of rental, for transient stays of less than 30 days, skirts condominium corporation rules and takes advantage of regulatory loopholes.
The practice has become mainstream due to websites like Airbnb, booking.com and hotel.com.
The Insurance Bureau of Canada’s Pete Karageorgos told 680news.com that many condo owners renting out their homes for the night don’t have proper insurance to cover any damages caused by or to guests.
Read the full story here.
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