Airbnb has extended their Friendly Buildings Program to Toronto. For condo corporations that allow short-term rentals, this program provides greater control over hosts and guests using the Airbnb platform.
Neptune Waterpark Condominiums is the first in Canada to sign up for this program. As with many Toronto condo buildings, Neptune Watermark residents support short-term rentals. They are also concerned about security and being unaware of who is in the building.
Airbnb’s Friendly Buildings Program offers a practical solution that supports short-term rentals in condo communities while providing the corporation with better security, a reasonable level of control and compensation for costs from guest traffic.
- Buildings can monitor short-term rental activity with access to hosts, guests and dates using a website dashboard.
- Guests provide government-issued ID to Airbnb.
- Airbnb will disallow hosts to utilize the Airbnb platform if there are sufficient complaints resulting from their rentals.
- Portion of rental revenue, ranging from 5 percent to 15 percent, can be shared with the condo corporation.
- Liability insurance provided to hosts by Airbnb, up to $1 million, is extended to cover common areas.
- Hosts pay $50 per month for building upkeep which helps deal with the cost of increased traffic flow in common areas and security services.
- Option for disallowing guest access to common area amenities and avoiding building upkeep fee.