Due to the ongoing housing crisis and the lack of rentals in many cities throughout BC, 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.
According to BC’s new legislation, if a municipality’s population is over 10,000, then a short-term rental will require the owner of the property to also use the rental as their primary residence.
Since this legislation was passed, the matter has been contentious among those who own and profit off short-term rentals and people who struggle to find housing.
This Thursday, March 14th, Mayor Marianne Alto will be bringing forth a motion to city council in which she seeks to request that the Province extend the deadline of May 1st to November to allow short-term rental owners one more tourist season.
“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.’”
Related:
- Victoria MLA speaks out on new short-term rental amid public backlash
- Victoria short-term rental owners disagree with BC’s new legislation to aid the housing crisis
- Short-term rentals closely linked to rapid rental increases across BC
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.
What are your thoughts, should it be delayed until November? Let us know in the comments below.
