gabe said:
Yep. love the outside. Inside it's a giant seedy 2 star motel. From what i have heard from people who used to live at ICE the condo is basically a vertical red light district! lol
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It had to go somewhere from Yonge Dundas Square!
 
gabe said:
Yep. love the outside. Inside it's a giant seedy 2 star motel. From what i have heard from people who used to live at ICE the condo is basically a vertical red light district! lol




How is this legal? It's build as a condo for people to live in, it's not a commercial hotel. Airbnb is such a plague on our housing market.
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While condo boards have great power they ARE subject to regulations and owner votes. A Board can pass a Rule but they can be over-ruled by a simple majority vote at an Owner meeting; they can sign contracts of many sorts but they can be 'recalled'. In this case, they seem to have accepted the fact that in their building short-term rentals are allowed (by a Rule or maybe in the Declaration - which is virtually impossible to change) and decided that the best they could do was to restrict the right and try to get extra revenue from it.

If the CityNews report is correct "... all existing rules and by-laws still apply, including the requirement that only unit owners who live in the building can host, and may do so only for up to 180 nights per year." Having an exclusive contract with Airbnb will give the condo corp access to info that will allow them to enforce the 180 day limit and bring in some income. It may be their way of 'making the best of a bad situation' - though I really cannot see how having a contract with Airbnb will stop other companies being used by owners too. If enough owners do not want short-term renters they can impose more restrictions through stricter Rules or even a Declaration change but it would seem that a large number of owners like short-term rentals so getting a change made will be 'difficult'.

Would I want to live in ICE? God no, but this may be a way to restrict the number of short-term renters and get some of the extra funds needed to cope with a transient population.
 
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UtakataNoAnnex said:
Slumlord shenanigans in a glass tower... /sigh
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Well, the slumlords are the owners of the condo units themselves, here. Ideally, owners of single units would want to band together at the AGM and throw out ineffective management, and create new rules to wrest the building back from those who just want to make a quick buck off their suites… but it seems it may be too late for that here, and that individual unit owners are probably already selling to those who already own multiple suites and use them strictly as income properties. That leaves the renters vulnerable in such a poorly managed complex, of course... and I'm not sure what the remedy for that is during this housing crisis where every unit is valuable beyond its normal worth.

42
 
interchange42 said:
Well, the slumlords are the owners of the condo units themselves, here. Ideally, owners of single units would want to band together at the AGM and throw out ineffective management, and create new rules to wrest the building back from those who just want to make a quick buck off their suites… but it seems it may be too late for that here, and that individual unit owners are probably already selling to those who already own multiple suites and use them strictly as income properties. That leaves the renters vulnerable in such a poorly managed complex, of course... and I'm not sure what the remedy for that is during this housing crisis where every unit is valuable beyond its normal worth.

42
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This screams of government should be do something about it. But government won't...least at the provincial level, unless it lines their personal coffers. /bleh
 
UtakataNoAnnex said:
This screams of government should be do something about it. But government won't...least at the provincial level, unless it lines their personal coffers. /bleh
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I love slamming 'the government' as much as anyone but there ARE rules and laws about condos and, IF THEY DO SOMETHING, the Owners are in control They elect the Board, the Board hires the Manager. If Owners allow others to take control (or do not pay attention) , their investment (and their tenants) suffer. If you are a condo owner who thinks their Board is not doing a good job, YOU can get rid of them and run for the Board and become a Director yourself. Look at CAO website for help. https://www.condoauthorityontario.ca/
 
DSC said:
I love slamming 'the government' as much as anyone but there ARE rules and laws about condos and, IF THEY DO SOMETHING, the Owners are in control They elect the Board, the Board hires the Manager. If Owners allow others to take control (or do not pay attention) , their investment (and their tenants) suffer. If you are a condo owner who thinks their Board is not doing a good job, YOU can get rid of them and run for the Board and become a Director yourself. Look at CAO website for help. https://www.condoauthorityontario.ca/
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Keep in mind that I said it "screams of" is not suggesting that government can do something about it here...

However, I will concede that since I am not a condo owner and will unlikely ever be one...I am commenting on things that are probably way out my field of expertise and experience. And thus admittedly, kinda clueless on how condo owning mechanics actually works. So I'll shut up about it for now...other than to amend my original comment to, "Slumlord shenanigans of their own making." >.<
 
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