New regulations for short-term residential rentals take effect in British Columbia (BC) from May 1st.
British Columbia (BC) Premier David Eby held a press conference on April 18, ahead of If short-term rental platform companies violate the new rules, they could be subject to administrative penalties of up to $10,000 per day.
The new rules require a “principal occupant” for short-term rental properties. In other words, people who want to rent out a home on a short-term basis must live there. Resort areas and areas with a high percentage of vacant properties are exempt, but 17 municipalities, including Tofino and Bowen Island, have opted to apply the rule. It will take effect in November in these communities.
In addition, listings on platforms such as Airbnb will be required to include the local business license number. Each platform must also share data, including host information, with state governments. Violations of these regulations will result in fines ranging from $500 to $5,000 per day for hosts. Guests will not be subject to fines, but the state government is encouraging guests to check with their hosts to make sure their short-term rental property violates the rules.
Premier Eby emphasized that the new regulations are aimed at making homes in the state available for short-term rentals, such as through Airbnb and VRBO, to “people looking for a place to live.” According to the state government, about 19,000 homes in the state last year had their entire homes available as short-term rentals most of the year.