Landlords may require a license to operate residential rentals in Toronto under a city council proposal. Rental buildings with at least 10 units would be covered by the scheme but condos and co-ops would not. The plan has been revealed in a city staff report.
The proposal is due to be discussed at a meeting Thursday, thestar.com reports, and if agreed the scheme could be in place by January 2017. It could mean a charge of around $15 per year per building to cover the cost of operation and landlords could face fines of up to $100,000 for failing to comply with regulations.
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