Vancouver is set to implement updated short-term rental regulations to align with provincial legislation, aiming to address housing availability and ensure compliance among operators. Here's what these changes mean for renters, homeowners, and the city.
Outlet
What's driving the changes?
Vancouver continues to face a housing affordability crisis, with efforts underway to protect long-term rental housing and support the health and safety of operators and renters.
The city's short-term rental regulations, first adopted in 2018, are being updated to align with the province's recently enacted Short-Term Rental Accommodations Act.
Key updates to regulations
Effective October 8, 2024, the following changes have been implemented:
Definition change: The definition of a short-term rental has been extended from less than 30 days to less than 90 days. Long-term rental licence holders currently renting their property for periods between 30 to 90 days will need to either apply for a short-term rental licence, provided they meet all requirements, or extend their rental terms to more than 90 days and continue to operate using their long-term rental licence.
Provincial registry enrollment: In early 2025, all short-term rental operators will be required to enroll in the provincial registry, enhancing data sharing and compliance monitoring.
Enforcement measures: The city is requesting that the province amend the Vancouver Charter to allow municipal tickets to be served by registered or electronic mail, strengthening enforcement capabilities.
The impact on renters and hosts
For renters, these updates aim to protect existing long-term rental housing and return more units to the market, potentially easing the housing shortage.
For hosts, compliance will require adherence to the updated definitions and licensing requirements, particularly for those offering rentals between 30 to 90 days.
The city has made the process to apply and obtain a long-term rental licence easier and faster, supporting compliance efforts.
How will this affect the market?
While the exact impact on rental availability remains to be seen, aligning municipal regulations with provincial legislation is expected to enhance enforcement and compliance, potentially increasing the number of units available for long-term rentals.
What's next?
The city will monitor the impact of these changes and may consider additional measures if necessary.
Operators are encouraged to familiarize themselves with the updated regulations and ensure compliance to avoid penalties.
Get the latest news and stories delivered to your inbox.
B.C. renters are paying less since Airbnb restrictions took effect: study vancouversun.com/business/real-…
Apparently the following letter got mailed to all residents at the Electra building in downtown Vancouver… It seems some residents are not happy about the AirBNB activity going on in the building and are calling out a couple hosts…
There are more than 200,000 short term rentals across the country — like Airbnbs or Vrbos — that could be turned into housing. So we’re giving cities more resources to crack down on those rentals and unlock more homes for Canadians.
