Toronto condo just signed a historic agreement with AirBnB

Image courtesty of: Rogers Digital Media

Big changes may be coming for AirBnB hosts in Toronto. 

The home-sharing app company has just signed a deal with a Toronto building that could change the way the service operates in condos throughout the city.

Neptune Waterpark Condos has signed onto AirBnB's Friendly Buildings Program. The agreement allows condo management staff to see data on AirBnB rentals in the building.

How many units are being rented on the app, the number of guests, and check-in and check-out times are just some of the information that management will be able to monitor. The purpose is to allow greater transparency between AirBnB hosts and the building, ensuring neighbours and management feel safer and more secure.

Another part of the agreement dictates fees for common area upkeep. AirBnB renters come and go, there's a toll on hallways, pools and other shared areas. Hosts will pay a small fee to help with upkeep of these spaces.

A percentage of the rental cost (between 5% and 15%), decided on a case-by-case basis, will be given to the building as well.

The deal is the first of its kind by AirBnB to take place outside of the U.S. The company may bring the agreement to other buildings with high numbers of AirBnB listings as well.

Greater transparency and security may help to refocus Toronto's attempts to crack down on the service, which the city has been exploring for some time now.