Air BnB where a person is letting their property be used for vacation purposes while they're on vacation is one thing, where a suite's sole purpose is to be used as vacation rentals is another and brings a whole raft of issues - including making the housing crunch more acute. It doesn't help that rental laws have moved too far in the direction of giving near ownership tenure to residential rentals - and that the rules governing vacation rentals are far more respectful of the owner's rights to property use, have less risk of damage that cannot be recovered (via insurance), and have far less risk of having a painful situation endure. The city cannot govern residential tenancy (although they can lobby for changes), however, does govern vacation rentals - and its encouraging to see some regulation of that market.
It would be encouraging for the province to recognize how the gap between the vacation rental market and the residential housing market is exacerbating the residential rental housing market. It would be encouraging to acknowledge that the more similar rental tenures are to ownership tenures, that the discount for being a rental diminishes and that we are losing what has been an affordable alternative to home ownership (that was less expensive in part because there was risk of being asked to move). A bit more balance in regards to those laws would be helpful - and perhaps some pages should be taken from employment law where length of tenure often governs the amount of notice that is needed to be given. Further, it might be helpful if the damage deposit system was retired and an insurance system (for both landlords and tenants) took it's place. Lastly, there's a gaping hole in the RTA with respect to room mates - which generally are not given any protections under the RTB. I fully acknowledge that all of that is provincial domain, however, unless the province fixes residential tenancy law, why would we expect there to be a greater supply of residential rentals?