Innsights
Sukhdev Toor, Manga Hotels, and a family vision for the future
FEATURE PROFILE: Feature from the FALL 2024 ISSUE of STAY Magazine
News
Number of 'ghost hotels' in Toronto contributing to housing crisis, surging prices, critics say
Advocates say short-term rentals listed on Airbnb are showing up in some Toronto condo buildings in concerning numbers, contributing to the deterioration of local neighbourhoods and the surge in rental prices, as reported by CBC News.
A new analysis of City of Toronto data by non-profit advocacy group Fairbnb Canada found that 600 short-term rentals, also known as STRs, are located within three condo buildings alone. The group’s executive director, Thorben Wieditz, says it raised concerns over whether these units are operating as “ghost hotels” without being zoned or taxed that way. In a statement to CBC Toronto, an Airbnb spokesperson says at a time when many are facing an affordability crisis, short-term rentals provide hosts the chance to earn additional income.
