The controversy continues over hotel-like nightly rentals of residential condominium units through the Airbnb website. This may be the hottest topic in condominium law right now (in addition to the revised Condominium Act, of course)! Every week there appears to be different news stories about Airbnb and the condominiums that reject (or embrace) this type of rental for residential units.
Most recently, an interesting article on the CBC website discusses the ongoing battle between condo owners who want to continue renting their units on Airbnb, and those that want the government to legislate a ban on short-term rentals.
In fact, as many have done, a condominium corporation can restrict short-term rentals by establishing a minimum leasing term for a unit. This is established through a rule or provision in the declaration. The condominium has to then enforce that rule against the owner who is using Airbnb to rent out their unit on a transient basis. We have assisted many condominiums through this challenging issue.
So the question is: are Airbnb rentals permitted at your condominium, or do you have a rule prohibiting short-term leasing?
As Airbnb becomes more and more prevalent, and arguably an increasing problem for buildings that prohibit short-term leasing, it is important for potential purchasers to clearly understand whether the condominium they are considering allows short-term rentals of units.
Each condominium is different. Many condominium owners will have an opinion on this issue one way or another. Airbnb in a condominium will affect a condo owner’s home, investment, and use of their unit. If Airbnb is not already an issue, its presence (lawfully or not) may be coming to your condominium in the near future.
If you have a question about Airbnb rentals in your condominium, contact our Condominium Law group today.