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Two Airbnb operators in British Columbia have expressed their shock and concern over the province’s recent decision to regulate short-term rentals, seeking more flexibility in the rules.
The new regulations primarily target properties that are not the owner’s primary residence, which means rentals via platforms like Airbnb and VRBO would only be permissible if the owner resides in the home. There are a few exceptions to this, including properties in resort towns and laneway homes.
Len Archer, a condo owner in Kelowna’s Playa del Sol, reveals his practice of renting out his place short-term for two months annually via Airbnb to supplement his retirement. He notes that this condo is zoned for such short-term rentals. However, with the new legislation targeting cities with a population over 10,000, Archer predicts an annual income reduction of up to $15,000, compelling him to reconsider the property’s viability as an investment.
Archer stresses that while he understands the problems Airbnb can create for the long-term rental market, he feels penalized despite adhering to all regulations and choosing a property explicitly zoned for short-term stays.
Similarly, Debra Sheets, a retired professor from the University of Victoria, speaks about her investment in the Janion, a renovated hotel turned into a micro-loft apartment building. She underscores that these micro-lofts, which are mostly less than 400 square feet, aren’t conducive for long-term living. The development company, Reliance Properties, further emphasizes the building’s original zoning as “transient” due to its hotel background.
Sheets, echoing the sentiments of many property owners, finds the sudden regulatory changes frustrating and unexpected. She worries about potential losses if she has to sell her properties and mentions the possibility of a collective lawsuit against the B.C. government by owners.
However, the province’s decision has garnered support from policymakers. Victoria Mayor Marianne Alto lauds the changes, hoping they will boost housing availability. Tofino Mayor Dan Law acknowledges the challenges municipalities face in regulating short-term rentals, indicating the new rules will likely increase long-term housing options.
B.C. Premier David Eby expresses little sympathy for multiple unit owners who use platforms like Airbnb, highlighting the pressing need for long-term housing solutions in the province.
