Airbnb is offering first-time hosts an incentive to sign up for the platform during the FIFA World Cup in Toronto.

“We’re offering $1,000 to people to host. All they have to do is sign up on Airbnb as long as they’re hosting any time between
now and the end of July, they would qualify,” shared Matt McNama, communications lead for Airbnb.

According to the hosting platform, Deloitte estimates that Toronto residents could earn up to $2,700 by renting their homes during the World Cup.

In order to qualify, you must be a new host, your entire home needs to be available to rent, and you have to register the short-term rental with the City of Toronto.

“The rules are very strict, so you won’t be able to host unless you have that registration from the city. You won’t be able to list your platform,” added McNama.

In a statement to CityNews, the city says, in part, that it investigates short-term rental bylaw violations and pursues appropriate
enforcement action as required.

The city also works closely with short-term rental companies to identify and remove any listings that do not have a valid registration
number or are not in compliance with the bylaw.

In Liberty Village, which is within walking distance of BMO Field, where six FIFA World Cup games will be held, the area is expected to get an influx of short-term rentals.

Several residents were on the fence about the potential impact of the rush of fans.

“If something happens, who’s responsible, right? And I think we’ve seen in other neighbourhoods where there’s the kind of buildings that are all Airbnbs, and there’s been bad situations,” one local resident told CityNews.

“If Toronto’s gonna be getting such an economic increase, it doesn’t really hurt for us, as residents, to kinda get a little kickback from it,” added another.

Fairbnb Canada, a non-profit that works to ensure short-term rental regulations in Canada protect housing security, is encouraging homeowners to look beyond the dollar sign, saying this could cause a host of issues in condo buildings and residences across the city.

“There are a lot of condos in the City of Toronto that have declarations or condo board rules that do not allow short-term
rentals, yet we also know that a lot of these condos are literally littered with short-term rentals,” said Thorben Wieditz, Director of Fairbnb.

“The concern there that condo boards have, and residents that are actually living in these condos full-time, is that incentives like these will just further incentivize property managers from using investment properties, kicking out long-term tenants, and turning these units into hotel use.”

He added that this could have a negative impact on long-term condo residents and owners.

For the first time ever, the World Cup will be hosted by three nations: the U.S., Canada and Mexico from June 11 to July 19.