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If you have been wondering what all the buzz is about regarding short term rental changes in British Columbia this spring, here’s a little recap of the things you should know. The province is implementing some significant changes to short-term rental regulations starting May 1, 2024. These new rules aim to increase long-term rental availability in the province, according to politicians, and here’s a quick rundown of what’s changing:
Principal Residence Requirement
This is the biggest change. Short-term rentals will only be allowed in a host’s principal residence, plus one additional unit (like a basement suite) on the same property. This applies to communities with populations over 10,000 and communities within a 15km radius of these larger cities.
More Homes Available for Renters
The goal is to free up entire homes currently listed as short-term rentals, making them available for long-term renters. This should help ease the housing crunch in many areas if those current owners decide to convert to long term tenanted properties.
Local Rules May Be More Restrictive 
The provincial rules act as a minimum standard. Municipalities can implement even stricter regulations if they choose. Some communities have already opted in for these stricter rules, such as the City of Kelowna, which prohibits short term rentals even within a principal dwelling, save for the just shy of 500 folks who are grandfathered with an existing business license.
Short-Term Rental Platforms Must Comply
Platforms like Airbnb and VRBO will be required to share data with the province and remove listings that don’t comply with the new rules.
Fines for Non-Compliance
A new enforcement unit will be responsible for ensuring compliance. Fines for violations can range from $500 to $5,000.
What This Means for Short-Term Rental Hosts
If you operate a short-term rental in BC, it’s crucial to understand these new rules. Here’s what you should do:
- Review the new regulations: Make sure your listings comply with the principal residence requirement.
- Contact your local municipality: See if they have any additional rules in place.
- Update your short-term rental platform listings: Ensure your business license number is displayed if required.
Impact on Travelers
There may be fewer short-term rental options available, especially in popular tourist destinations. Booking vacations further in advance may be wise.
Overall, these changes aim to increase housing availability for residents of British Columbia. If you’re a renter, this could be good news. If you’re a short-term rental host, be sure to adapt your business practices to comply with the new regulations.
For more information: https://www2.gov.bc.ca/gov/content/housing-tenancy/short-term-rentals
