Breaking News: Vancouver Short-Term Rentals to Soon Include Properties Rented Less than 90 Days
Vancouver, BC – In a move aimed at cracking down on the city’s thriving short-term rental market, the City of Vancouver has announced plans to update its regulations to include properties rented for less than 90 days.
According to Global News, the city council has voted in favor of the change, which will bring Vancouver in line with other major Canadian cities, such as Toronto and Montreal, that have similar restrictions in place.
The New Regulations: What You Need to Know
As of [insert date], property owners in Vancouver will be required to register and pay a fee for properties rented for less than 90 days. This move is expected to help the city better track and regulate the short-term rental market, which has been criticized for driving up housing costs and reducing the availability of long-term rentals.
The new regulations will apply to properties rented through platforms such as Airbnb, VRBO, and HomeAway, and will require property owners to obtain a business license and pay a fee of $1,000 per year.
The Impact on Property Owners and Tenants
The changes are expected to have a significant impact on both property owners and tenants in Vancouver. Property owners who rely on short-term rentals to supplement their income may need to adapt their business models to accommodate the new regulations.
On the other hand, tenants who are looking for longer-term rentals may find more options available as the number of short-term rentals on the market decreases.
What’s Next?
The City of Vancouver is expected to release more information on the new regulations and how they will be enforced in the coming weeks. Property owners and tenants who are affected by the changes are encouraged to stay tuned for updates and to visit the City of Vancouver’s website for more information.
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Vancouver short-term rentals to soon include properties rented less than 90 days | Global News
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Just build new housing and stop trying to be a co-owner for every home in the region.