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BC Government mandates thousands of short-term rentals in BC to convert to long-term leases by May 1


British Columbia Premier David Eby emphasizes that his government is prioritizing families in need of homes over speculators who invest in short-term rentals and flipping houses.

Mr. Eby made these remarks ahead of rule changes coming into effect on May 1, restricting short-term rental units to the primary residence of the host.

The government reports that over 19,000 entire homes are currently listed as short-term rentals, a situation the new regulations aim to address.

According to Mr. Eby, if investors are constructing homes that are essential for people, the government will expedite the process. However, he adds that real estate investments should not compete with individuals seeking housing.

The new short-term rental rules will impact more than 60 communities in British Columbia. Housing Minister Ravi Kahlon mentions a compliance enforcement unit will be gradually introduced to support municipalities in handling rule violations.

Mr. Kahlon anticipates a significant number of the 19,000 homes listed for short-term rentals will transition back to permanent rental homes.

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The updated regulations also mandate short-term rental platforms like Airbnb to share data with the province. Local authorities can request platform removal of listings lacking a valid business license.

Mr. Eby affirms that these changes will empower both the province and local governments to combat speculators essentially running mini hotels.

Mr. Eby concludes by asserting a commitment to favoring families seeking housing over speculative investments, stating, “If you are standing neck and neck with a family that’s looking for a place to live, and you’re trying to do a speculative investment, (while) they’re looking for a place to live, we are going to tilt the deck every single time towards that family. And we’re gonna keep doing it.”



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