Orillia councillors approved a new bylaw to regulate short-term rentals at Monday’s city council meeting, requiring operators to pay for an annual licence.
The City says the new bylaw will allow it to monitor and manage the short-term rental market, capping it at 150 accommodations at one time.
The annual licence fee costs $2,000 and is anticipated to fund the cost to administer and enforce the program, the City noted.
In a Tuesday release, the City said the new bylaw would require short-term rental operators to collect Municipal Accommodation Tax, “which will bring in further funding to promote the local tourism industry.”
The new bylaw takes effect on Jan. 1, 2024.