B.C. struggles with short-term rentals
The province is imposing new restrictions, fines and requirements.
B.C. Premier David Eby and Housing Minister Ravi Kahlon announced the introduction of the Short-Term Accommodations Act in the province. It involves the regulation of this market by the government and the introduction of new rules.
The essence of the law
Changes to the operation of short-term lettings will come into effect in phases and will be led in three main areas:
- penalties and new enforcement tools (e.g., requiring online short-term rental platforms to share data with the province or include business license numbers in advertisements);
- returning more short-term rental housing to the long-term rental pool (through regulation of the location of such housing);
- Establishing and enforcing provincial regulations (establishment of a short-term rental market registry and a provincial oversight body).
“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.”
In the long-term rental market, the province estimates that there are currently 28,000 short-term rental properties across British Columbia. A significant percentage of these are managed by legal entities rather than people renting out their own homes or vacation properties. According to the province, up to half of them do not comply with existing municipal regulations.
When can we expect to see a change?
Fines for violations will increase immediately upon signing the law, from CA$ 1,000 to CA$ 3,000. The maximum fine that regional districts can seek in court for violating the statute is increased to CA$ 50,000.
By May 2024, the province already plans to implement a basic requirement for short-term rentals — people will only be able to rent out the property they live in most of the year. This change will affect municipalities with populations greater than 10,000, but will not affect the resort towns of Whistler, Tofino and Osceola.
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