Vrbo, the short-term vacation-rental platform owned by travel giant Expedia Group, has announced that it's quitting Toronto for good.

The Airbnb competitor that allowed users to book condos, cabins, and beach houses has decided to exit the market thanks to the City's crack down on short-term rentals.

"After years of ongoing discussions, Expedia Group is saddened that the regulatory environment in Toronto has caused us to withdraw from the short-term vacation-rental market," said Philip Minardi, Expedia’s director of policy communications, in a statement toThe Logic.

Vrbohosted over 300 houses, condos, apartments, and studios in Toronto.Short-term rentals were temporarily banned2020年时期由于封锁。

The company's withdrawal from the city makes Airbnb the only licensed platform to operate short-term rentals (STR) in Toronto.

Toronto says it will be strictly enforcing new rules for Airbnbshttps://t.co/GIiCzr3fBr#Toronto#Airbnb

— blogTO (@blogTO)December 12, 2020

In December, the City announced that it was implenting stricter rules on Airbnb operators, withenforcements kicking in on January 1.

Airbnb hosts can now only rent out their primary residences, meaning investment properties and ghost hotels are finally banned. Anyone hoping to use their primary residence as an STR must register their property with the City.

The result has been a flood ofcondo rentals flooding the market during COVID-19, with rents dropping to record lows and staying there for months.

There have been calls for more stringent bylaws regardingSTR platforms since 2017, with organizations like Fairbnb advocating for better regulations amidst a housing crisis and stricter punishments for illegal listings.

Large numbers of Airbnb listings have been accused of taking over condos in Toronto. Early last year, ICE Condos moved toban Airbnb units from its building entirely.