City of Toronto awards Harmari STR with Short Term Rental Identification and Monitoring Contract
- afuturetogether
- May 4, 2021
- 1 min read
Toronto is an international destination for tourism and was included in the Airbnb pre-IPO as one of its Top 10 Markets along with iconic cities like Barcelona, New York, Los Angeles, Rome, London and Paris. In 2020, Harmari STR has estimated about $150 million of revenue collected by STR hosts in Toronto, and $480 million of revenue collected by hosts in Toronto in 2019.
At present, over 3,300 short term rentals have successfully registered on the City of Toronto’s web portal.
The City of Toronto’s system requirements from the RFP included the following:
Ability for City staff to search, correct, and append with additional information
Predictive Modeling and Fraud-Detection capabilities for non-compliant hosts
Cross-listing properties with Image Recognition
Cluster analysis to group related clients based on behaviours
Verification of the Rental property as the Primary Residence
Municipal Accommodations Tax (MAT) revenue modeling, estimation and time series data
“This is a culmination of years of hard work, staying updated on municipal policy, design and R&D to meet and exceed the City’s system requirements for a cutting edge compliance solution”, says Ron Chan, Account Manager at LTAS. LTAS is headquartered in Toronto, Ontario.
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