Province takes action against short-term rental speculators
In a move aimed at tackling housing affordability and curbing illegal short-term rentals, British Columbia has unveiled a new provincial registry for short-term rental operators. Provincial housing minister Ravi Kahlon announced the initiative during a news conference in Vancouver, emphasizing that the registry is part of a broader effort to prioritize housing for residents over market speculation.
Under the new rules, operators listing properties on platforms such as Airbnb and Vrbo must apply for a registration number by May 1. Listings that fail to comply will be removed starting June 1. Annual registration fees will range from $100 for hosts who reside on their properties to $600 for so-called strata hotels, with a 50% discount offered to operators registering by February 28 and a 25% discount for those signing up by March 31.
“We believe homes are for people and not for speculation, and this registry will allow us to take the enforcement to the next step,” Kahlon stated.
Strengthened enforcement
A report by David Wachsmuth, an urban planning professor at McGill University, highlights the impact of recent restrictions on short-term rentals in BC. The study, commissioned by the BC Hotel Association, reveals a 15.8% drop in active short-term rental listings since rules were tightened last May. Wachsmuth conducted the research independently of his university role.
Kahlon noted that these measures have already led to increased availability of long-term rental properties and reduced rent prices. He dismissed concerns that stricter regulations would harm tourism, affirming the province’s continued appeal as a destination for visitors and residents alike.
The provincial registry will operate alongside existing municipal short-term rental regulations, which include requirements such as obtaining business licenses. Kahlon said registry data will be shared with the finance ministry and local governments to enhance enforcement against non-compliant operators.
Vancouver councillor Lenny Zhou praised the registry as a crucial step in addressing housing challenges. While acknowledging the role of short-term rentals in supplementing hotel room shortages, Zhou stressed the importance of maintaining a balance between tourism needs and residential housing.
“For too long, we’ve struggled to address the challenges posed by non-compliant operators in the short-term rental market,” Zhou said. “This [has] made it difficult to ensure that housing remains available for those who want to call Vancouver home.”
The registry, he added, will help target “bad actors” while encouraging homeowners to transition toward offering long-term rentals, alleviating pressure on the housing market.
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