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B.C. is bringing in new rules for short-term rentals. Here's what's changing

B.C. is bringing in new rules for short-term rentals. Here's what's changing

CTV
Monday, October 16, 2023 6:47 PM GMT

B.C.'s new legislation on short-term rentals will triple the fines for hosts who break the rules, and bring in a number of new requirements for operators in an attempt to return units to the long-term market.

B.C.'s new legislation on short-term rentals will triple the fines for hosts who break the rules, and bring in a number of new requirements for operators in an attempt to return units to the long-term market.

Premier David Eby and Housing Minister Ravi Kahlon announced the Short-Term Accommodations Act Monday.

"There is no question, in British Columbia short-term rentals have gotten out of control," Eby said at a news conference after the legislation was tabled, adding that the bill seeks to crack down on profit-driven operators.

"Thousands of homes that used to be available to buy or rent are now off the market and people who are looking for a decent place to live are struggling more than ever," he continued.

In a long-term rental market characterized by sky-high prices and extremely low vacancy rates, the province estimates there are currently 28,000 short-term rentals operating in communities across B.C. A significant percentage of these, the province says, are run by for-profit operators and not people renting out their own homes or vacation properties. Up to half are not compliant with existing municipal bylaws, according to the province.

"We're taking strong action to crack down on the abuses in the short-term rental market," Eby told reporters.

The first part of the new legislation will see a significant increase in fines for illegal operators. The penalty will jump from $1,000 per infraction, per day, to $3,000. In addition, regional districts – which currently do not have the authority to license or regulate businesses – will be allowed to license and regulate short-term rentals.

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