In April of 2018 the City of Vancouver imposed new short-term rental laws. They seem to be aimed directly at the growing use of Airbnb use in the city. What do you need to know about these new laws? And what kind of impact with this have on the city? We will be looking to answer these questions below.
UPDATE: The laws are now in effect, and the city has seen over 1,000 adds pulled off of Airbnb! Hopefully this change brings more long-term rentals into the city.
The New Laws
The new laws say that if you want to rent out your home for less than 30 day periods then you will have to apply for a a “Short Term Rental Business License”, which costs $56 to apply for with a $49 yearly renewal fee. You will have until August 31st of 2018 to apply for this license, and those who do not have it come September could face fines up to $1,000 a day per infraction. Wow. Vancouver really means business with this.
A few other caveats worth pointing out is that this business license will only be given out if you are renting out your primary residence. If you own a rental property, or even a legal basement suite, you will not be allowed a license.
One other interesting fact is that if you are renting out your property to a tenant, your tenant could sub-lease your suite if you allow it. You may want to make sure that you add an addendum on sub-leasing in your contracts if you have not done so already.
Why Is Vancouver Doing This?
As much as it is easy to look at this as an immediate negative, especially for people who mainly use their rentals properties as Airbnb rentals, there are some benefits for the city as a whole. Vancouver is an amazing city to live in, and they are currently dealing with big housing shortages. This new law is designed to make sure that there are more rental properties available for people to live in the city long term.
Airbnb is still being regulated back to being used for it’s original purpose; to rent out a room, or your home when you are away. The City of Vancouver is looking to grow the city for the long term, and that is a great thing, although it might cause some short term pain for Airbnb landlords.
What are your thoughts on this new law? Are you ready for it? Let us know in the comments below.
Miss B Nasty, Ivy The Character, Im xXx Dark Only Fans Leaks Mega Folder Link ( https://picturesporno.com )
Excellent write-up
Acting Lightskin. Nicole Lael, Turquoise Barbie Only Fans Leaks( https://picturesporno.com )
Hey, you used to write great, but the last few posts have been kinda boring?K I miss your great writings. Past few posts are just a little bit out of track! come on!
Hello There. I discovered your weblog using msn. This is a very well written article. I’ll make sure to bookmark it and come back to learn more of your helpful info. Thanks for the post. I’ll certainly comeback.
Hi! This is my first comment here so I just wanted to give a quick shout out and say I truly enjoy reading your blog posts. Can you suggest any other blogs/websites/forums that deal with the same topics? Appreciate it!
I got what you mean , thankyou for posting.Woh I am lucky to find this website through google. “Success is dependent on effort.” by Sophocles.