Last week, the BC government announced they would be heavily regulating short-term rentals (STRs) to aid the current housing crisis in cities across the province.
Since that announcement, STR owners have not been pleased with the new laws and have been making their voices heard in opposition to the new laws.
The new laws state that a STR will only be legal if it is within the operator’s primary residence.
If someone has a basement suite that is vacant or a spare bedroom in their home, those would qualify as viable STRs under the new laws while someone’s second condo would not be.
STR owners use their properties primarily as rentals on platforms such as Airbnb or Vrbo, but owning these properties also affords them a second property to utilize for friends and family to stay in or as a vacation home.
Those who own STRs are not happy about this legislation because it effectively forces them to either convert these properties into long-term housing options and lease them in accordance with the Residential Tenancy Board’s rules and regulations, or sell them off.
Related:
- Victoria short-term rental owners disagree with BC’s new legislation to aid the housing crisis
- BC introduces legislation to push short-term rentals back into housing market
- Short-term rentals closely linked to rapid rental increases across BC
Amid STR owners’ backlash, Victoria-Swan Lake MLA, Rob Fleming, has released a statement in regards to his stance on the new STR legislation.
“Across the province, the increase in short-term rentals being listed on sites like Airbnb is leading to fewer long-term housing options for British Columbians,” Fleming wrote.
“Often I’ll hear from people in our community – young people, families, and seniors – who can’t find housing options. That’s why we’re reining in the unrestricted short-term rental market, so that more homes can be used for people, instead of profits.”
He states that this new legislation will nudge property owners into converting their units to long-term housing options, which he and his government support.
“This won’t be a full ban on short-term rentals like Airbnb, but it will stop people from buying up multiple properties just to use for short-term rental, in communities where there is a serious need for long-term housing,” explained Fleming.
“Right now, we estimate over 16,000 homes are being used as short-term rentals, and bringing some of those back into the rental market for British Columbians can help us make sure these homes are used for people to live and stay in.”
In Victoria alone, there are 23 buildings that grandfathered in the ability to allow short-term rentals.
In these buildings, there are over 1,520 units that will become long-term rental options following the introduction of the province’s new legislation.
The new laws regarding STRs will not come into effect until May 1st, 2024.
“This alone is not going to fix our housing crisis, but at a time when rents are high and housing supply is low, I’m hopeful this will make a difference for people in BC when they need it,” he concluded.
Fleming also invited those who would like to have their voices heard, either in favour of or in opposition of the new laws to email him.
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