It will be fully implemented by 2026. It will gradually impact, not significant in short term. City of Vancouver, Kelowna and Victoria has implemented this rule already.
Thanks for the comments on the Short-Term Accommodation Act! 🏠 It's definitely a topic that's generating a lot of noise. The act was well-intentioned, aiming to free up more units for long-term rentals. A lot of owners like short-term rentals because they're easier to manage and can make more money for positive cash flow. With the high-interest rates now, rent from long-term rental often can't cover the mortgage. Given these conditions, I wouldn't be surprised to see more studios and one-bedroom apartments in Downtown Vancouver up for sale soon. It's a hotspot for short-term rentals, after all. If you want to talk more about this, or if you're considering rental property management, buying, or selling properties, feel free to give me a call. 📞778-302-8212. Don't forget to stay tuned to my channel for more real estate insights and updates. 😊
It will be fully implemented by 2026. It will gradually impact, not significant in short term. City of Vancouver, Kelowna and Victoria has implemented this rule already.
www2.gov.bc.ca/gov/content/housing-tenancy/short-term-rentals
I heard condo board can have by law to pass this Abnb law. Is it truth?
Bylaws and rules are unenforceable if they contravene the Strata Property Act, the Human Rights Code or other enactment or law.
Normally it will only affect condo for Abnb, no one buy townhouse and duplex to buy for Abnb that us too costly . This is only buying for living
some people do
It is also allow in laneway in your primary house backyard
Thanks for the comments on the Short-Term Accommodation Act! 🏠 It's definitely a topic that's generating a lot of noise. The act was well-intentioned, aiming to free up more units for long-term rentals. A lot of owners like short-term rentals because they're easier to manage and can make more money for positive cash flow. With the high-interest rates now, rent from long-term rental often can't cover the mortgage.
Given these conditions, I wouldn't be surprised to see more studios and one-bedroom apartments in Downtown Vancouver up for sale soon. It's a hotspot for short-term rentals, after all.
If you want to talk more about this, or if you're considering rental property management, buying, or selling properties, feel free to give me a call. 📞778-302-8212. Don't forget to stay tuned to my channel for more real estate insights and updates. 😊