As a townhouse realtor, Ariane Benjamin knows Vancouver is facing a serious housing crunch. In mid-July, the city inched towards the legalization of short-term rentals.
“There are a lot of considerations,” says Ariane, who adds there are pros and cons for everyone on both sides of the issue. “Some long-term residents are concerned about how short-term rentals, like those from Airbnb, could impact the noise and safety of their neighbourhoods. On the other hand, many homes and even some townhouses are now being built with helper suites to help homeowners offset the expensive cost of real estate.” Although short-term rentals are currently prohibited in Vancouver, it is estimated that there are almost 6000 of these properties operating illegally. Under the newly proposed rules, short-term tenants, those staying for less than 30 days, would be allowed into the principal residences of both renters and owners. The proposed regulations would allow about 70 to 80 percent of all short-term renters to operate
“There are a lot of considerations,” says Ariane, who adds there are pros and cons for everyone on both sides of the issue. “Some long-term residents are concerned about how short-term rentals, like those from Airbnb, could impact the noise and safety of their neighbourhoods. On the other hand, many homes and even some townhouses are now being built with helper suites to help homeowners offset the expensive cost of real estate.” Although short-term rentals are currently prohibited in Vancouver, it is estimated that there are almost 6000 of these properties operating illegally. Under the newly proposed rules, short-term tenants, those staying for less than 30 days, would be allowed into the principal residences of both renters and owners. The proposed regulations would allow about 70 to 80 percent of all short-term renters to operate
Although short-term rentals are currently prohibited in Vancouver, it is estimated that there are almost 6000 of these properties operating illegally. Under the newly proposed rules, short-term tenants, those staying for less than 30 days, would be allowed into the principal residences of both renters and owners. The proposed regulations would allow about 70 to 80 percent of all short-term renters to operate
Under the newly proposed rules, short-term tenants, those staying for less than 30 days, would be allowed into the principal residences of both renters and owners. The proposed regulations would allow about 70 to 80 percent of all short-term renters to operate legally, while generating additional taxes and offering greater options to those looking for short-term accommodation in the city. Long Term Accommodation Not Included Because legalizing short-term rentals could mean less long-term availability and increased rents, short-term rentals would not be permitted in any properties that could provide long-term housing, such as basement suites, laneway homes, or investment units. However, property owners who obtain the adequate business licenses as required for hotels, bed and breakfasts, and long-term rentals could rent these units short term. The proposed changes will be discussed in the autumn, and the city plans to hold a public hearing. Details on the date and location will be posted when they are set. To learn more, go
Long Term Accommodation Not Included
Because legalizing short-term rentals could mean less long-term availability and increased rents, short-term rentals would not be permitted in any properties that could provide long-term housing, such as basement suites, laneway homes, or investment units. However, property owners who obtain the adequate business licenses as required for hotels, bed and breakfasts, and long-term rentals could rent these units short term. The proposed changes will be discussed in the autumn, and the city plans to hold a public hearing. Details on the date and location will be posted when they are set. To learn more, go to: http://vancouver.ca/doing-business/short-term-rentals.aspx
