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BC cracks down on short term rentals

British Columbia’s new legislation regarding short-term rentals is set to implement stricter measures, significantly increasing fines for rule-breaking hosts and introducing new requirements for operators with the goal of bringing more units into the long-term housing market. Premier David Eby and Housing Minister Ravi Kahlon unveiled the Short-Term Accommodations Act on Monday.

“There is no question, in British Columbia short-term rentals have gotten out of control,” Eby said at a conference. “Thousands of homes that used to be available to buy or rent are now off the market and people who are looking for a decent place to live are struggling more than ever.”

The province of British Columbia currently hosts approximately 28,000 short-term rentals across its communities. Significantly, a considerable portion of these rentals is managed by for-profit operators rather than individuals renting out their primary residences or vacation properties. Moreover, up to half of these rentals are operating in violation of existing municipal bylaws, according to the province.

You can read more on the matter here.

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