Statement: Toronto embraces innovation in recommendations on short-term rentals

MaRS supports innovation in short term rental, housing and other accommodation options. A leading city like Toronto needs a range of housing options to attract and retain global talent.

Cities must take a broad perspective and be proactive to build a sharing economy that benefits the public. MaRS Solutions Lab was pleased to support the city of Toronto’s Municipal Licensing & Standards consultations on short-term rentals. The lab helped identify the issues and opportunities that short-term rentals have in the Toronto context. It also developed ideas for the regulation of short-term rentals to benefit neighbourhoods, housing, economic development and tourism.

Read the City of Toronto’s short-term rental regulation report

Read MaRS Solutions Lab’s report on short-term rental stakeholder workshops

MaRS Solutions Lab released “Shifting Perspectives: Redesigning Regulations for the Sharing Economy” last year, calling for government and industry stakeholders to design regulations that create public value, support innovation and reduce administrative burden. The lab engaged over 200 individuals including taxi drivers, uberX drivers, hotel managers, Airbnb hosts and other stakeholder in government and business.