A Vancouver Island resort community is the first in British Columbia to vote in favor of joining the provincial government’s regulations on short-term rentals, despite being exempt from the new bylaw starting May 1st.
With a resounding 5-2 vote, the District of Tofino has opted into the provincial government’s restrictions, signaling a significant shift in how communities manage the burgeoning short-term rental market.
The decision comes amidst growing concerns about the impact of short-term rentals on local housing availability and affordability.
Tofino, known for its stunning natural beauty and thriving tourism industry, has been grappling with the challenges posed by the rapid proliferation of vacation rentals in recent years.
Under the new regulations, rentals will be restricted to a host’s principal residence and one secondary suite.
This move aims to strike a balance between accommodating the tourism industry’s needs and preserving the integrity of the local housing market.
Tofino’s decision holds particular significance as it was one of the 14 resort communities and municipalities with fewer than 10,000 residents initially exempted from the provincial restrictions.
The timing of Tofino’s decision aligns with broader discussions taking place across British Columbia regarding the regulation of short-term rentals.
With approximately 28,000 short-term rentals province-wide, concerns have been raised about the impact on the long-term rental market and housing affordability.
Due to the ongoing housing crisis and the lack of rentals in many cities, the Province will be banning most short-term rentals beginning May 1st.
Short-term rentals refer to housing that is rented for less than 90 days at a time and are available for rent on platforms such as Airbnb or Vrbo.
RELATED: Victoria mayor looks to have short-term rental ban delayed until November
Research conducted by McGill University in 2023 revealed that over 16,000 entire homes have been withdrawn from the housing market to be utilized as short-term rentals.
Meanwhile, Victoria Mayor Marianne Alto plans to present a motion to the city council, advocating for an extension of the deadline for compliance with the new regulations.
The proposed extension, from May 1st to November, aims to provide short-term rental owners with an additional tourist season to adjust to the new requirements.
“Since their popularization, [short-term rentals] have provided an alternative accommodation option for the tourism sector, complementing the hotel and motel industry,” reads Mayor Alto’s motion.
“Hotel and motel units continue to be built in Victoria, but while those applications are being processed and buildings constructed, demand for local accommodation often exceeds supply during the city’s thriving ‘high season.’”
There are over 1,500 short-term rentals in Victoria alone that will either be put up for sale or turned into long-term rentals beginning in May if the Province doesn’t extend the implementation of the legislation.
Mayor Alto believes that without those 1,500 units being available on platforms such as Airbnb or Vrbo, the hotel industry will be overwhelmed and some tourists may not be able to find accommodations.
City Councillor Stephen Hammond also signed his name to this motion in support of delaying the implementation of the new short-term rental regulations.
With files from Curtis Blandy
