The City of Saskatoon's licensing requirement exists specifically because short-term rentals affect a neighbourhood differently than a long-term tenancy does, with more turnover, more parking demand and more noise complaints on average, so the bylaw gives the City a way to track who is operating and to respond if problems come up.
Running a property as a short-term rental can also change how your lender and your insurer see it. A mortgage taken out on an owner-occupied basis, with CMHC's insured minimum down payment of 5 percent on the first $500,000, generally assumes you are living there or renting long-term, and using the property as a frequent short-term rental instead can affect both your insurance coverage and your standing with your lender if they find out later.
Before you list a whole Saskatoon unit on any short-term platform, confirm your business licence, your zoning and your mortgage and insurance terms all actually allow it. Get your hand-reviewed valuation from Joel Dyck.