FINANCIAL IMPACT 

There are no financial impacts beyond what has already been approved in the current year's budget. 

The Deputy City Manager & Chief Financial Officer has reviewed this report and agrees with the financial impact Information. 

DECISION HISTORY 

At its meeting of January 28, 2016, Executive Committee referred Item EXt 1.19 Regulating Temporary Accommodation Rentals to the Executive Director, ML&S, and the Chief Planner and Executive Director, City Planning. to provide an interim report in the third quarter of 2016 and a final report in 2017 on n3gulatIng temporary accommodation rentals. The dIredive requested the report address:

(http://app.torontocanmmisiviewAgendaltemHistorv.do?item=2016. X11.19)

COMMENTS

There has been a significant rise in the number of people around the world and in Toronto reatimproparty or rooms in their homes for short periods. This growth has been driven by the ernSce of online platforms that host listings and facilitate bookings and payments. The largest of these platforms. Airbnb, offers listings In more than 190 countries and has booked more than 60 million guests. With this rise, Toronto residents have raised questions and concerns about whether short-term rentals are permitted in the City and whether short-term rentals should be subject to further