Legislation Introduced To Rein In Short-Term Rentals

The province has introduced legislation to regulate the rapidly expanding short-term rental market.

“Anyone who’s looking for an affordable place to live knows how hard it is, and short-term rentals are making it even more challenging,” said Premier David Eby.

“The number of short-term rentals in B.C. has ballooned in recent years, removing thousands of long-term homes from the market. That’s why we’re taking strong action to rein in profit-driven mini-hotel operators, create new enforcement tools and return homes to the people who need them.”

The province says data shows that short-term rental listings on online platforms have expanded rapidly over recent years and continues to surge since the COVID-19 pandemic.

Currently, there are approximately 28,000 daily active short-term rental listings in B.C., an increase of 20% from a year ago.

Data indicates that more than 16,000 entire homes are being listed as short-term rentals for the majority of a calendar year.

Research from McGill University shows the top 10% of hosts earn nearly half of all revenue and nearly half of all operators have multiple listings.

The legislation focuses on three key areas: increasing fines and strengthening tools for local governments; returning more short-term rentals to long-term homes; and establishing provincial rules and enforcement.

Communities on First Nations reserve land will be exempt from the legislation. Modern Treaty Nations will also be exempt from the legislation but will be able to opt into the legislation, if desired.

To see the full release, visit Government of British Columbia.