Vrbo exits Toronto market over city’s new short-term-rental rules - The Logic
Summary
VRBO's exit from Toronto signifies the impact of new short-term rental regulations. This departure highlights the growing trend of stricter local laws affecting STR platforms and hosts. Hosts should stay informed on evolving regulations to ensure compliance, or risk being forced from the market.
Key Insights
- •VRBO exited the Toronto market due to the city's new short-term rental rules.
Action Items
- ✓Hosts in Toronto should familiarize themselves with the new regulations and ensure compliance to continue operating.Effort: lowImpact: high
Common Mistakes
- ⚠Failing to comply with local short-term rental regulations could result in being removed from the VRBO platform and/or fines.
More from Regulations & Compliance
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A 21-unit vacation rental in Dunedin, Florida, has been approved, signaling potential growth in the local short-term rental market. This approval could lead to increased accommodation options for tourists visiting the area. This news could also influence local regulations.
St. Louis aldermen have approved a short-term rental fee, though a legal battle over existing rules continues. This indicates a focus on regulating the STR market within the city. Hosts in St. Louis should be aware of these new fees, which may impact their profitability. Find out how this affects your STR business.
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