Province of BC new Short Term Rental Legislation

[Lorne18]

There are many hosts that have been affected by the British Columbia provincial government's new legislation which restricts Short Term Rentals (STR) to primary residence only. This legislation was announced and implemented without consultation with industry hosts, and without any notice. This new legislation affects those hosts who may have only one STR and is licensed and complies with by the applicable city bylaws and regulations. A fine of $3000 per day has been imposed for noncompliance. The new legislation has been enacted to create more long-term rental properties, however, creates dire hardship for those hosts that rely on the short-term rental income to support their family and retirement income. The new legislation will also have a significant impact on tourism in BC, and for families to have access to cost efficient options for private homes that can be shared with other families and allow for cooking facilities to reduce high food costs. 

[Dave1449]

It appears that BC has passed an ill thought out piece of legislation to "solve" the issue of not enough rental properties for  BC residents.  They went as far to think this will reduce monthly rental rates.  It won't.  The only ones making bank will be hotels that can raise their rates since tourists, nurses, and construction workers who need short term stays will only be left with hotels as options.

We are from Texas and have vacationed in Vancouver and Victoria many times, looking forward to a respite from the heat.  We prefer short term rentals, because we enjoy living like locals, spending money in the local markets and making many of our meals.  We spend a lot of money as tourists at local restaurants, tours, and attractions.  

This law will not solve the housing crisis.  Only laws that create an environment amenable to investors  to build new homes and apartments will do that.  Unfortunately this new law means we will take our vacation dollars elsewhere.