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A council committee will examine proposed licence fees, fines and further regulations for short-term rentals, such as Airbnbs, at a meeting on Wednesday.

The short-term rental industry is a recent innovation sparked by the spread of online “share” companies. People can share scooters, cars, houses and more at the touch of a button but, in many cases, city bylaws failed to keep up as the industry exploded.

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The city is seeking to regulate short-term rentals to improve the safety, accessibility and inclusivity of neighbourhoods and public spaces.

“When Airbnb first started, it was the idea of people sharing their own property and making some money off of it. While they’re not occupying their home, it’s now become a business,” Ward 7 Coun. Druh Farrell said Sunday.

“I think it’s gone beyond what we initially anticipated, and we need to recognize that and find ways to mitigate the impact.”

Farrell knows of entire floors of multi-family condos within her ward that are being kept from the market so they can be rented out on apps and websites.