Launched in 2008, Airbnb began as a simple platform with a few hundred users that offered alternative short-term rentals to travellers. Today, Airbnb has an estimated value of $31 billion dollars, more than 150 million users, and is utilized in nearly 200 countries with millions of listings. Airbnb has become the leading single source of accommodation seeking with a reputation as an accessible, flexible cost-effective and user-friendly tool. The growth of Airbnb is unprecedented and has left major cities unprepared for the wider impact of this pronounced symbol of a sharing economy.
Calls to regulate the use of Airbnb and other similar platforms have proliferated across major North American cities. While several Us jurisdictions have already exercised regulatory control over short-term leasing. Canada seems much more hesitant than its American counterparts to take similar action. However, the tide may be shifting as Canadian cities face mounting public pressure to regulate short-term rentals. Many groups view Airbnb as threatening long-term rental space, changing the composition of neighbourhoods and providing unfair competition to the hotel industry.
American Regulation