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Home Real Estate

BC Real Estate Association calls for province to reconsider ban on short-term rentals

October 2, 2024
in Real Estate
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BC Real Estate Association calls for province to reconsider ban on short-term rentals
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The British Columbia Real Estate Association (BCREA) is urging for significant changes to British Columbia’s short-term rental laws to address the disruption they have caused for specific business and tourism sectors across the province, as announced last week by the association.

On May 1 of this year, the B.C. Government implemented a widespread ban on short-term rentals in an effort to increase the availability of long-term rental properties.

 

British Columbians impacted by the ban

 

BCREA, through a new housing policy resource hub launched in anticipation of the 2024 Provincial General Election, has identified various groups of British Columbians negatively affected by the ban.

These groups include:

  • medical employees relocated to remote areas
  • individuals receiving extended medical treatment and their caregivers in urban areas
  • film industry workers staying for weeks at a time
  • participants or staff of large short-term events lacking adequate hotel accommodations (such as a Taylor Swift concert or the FIFA World Cup 2026)
  • individuals in need of temporary housing due to delays in obtaining permanent homes or apartments

BCREA has proposed various exemptions from the ban in different categories, including these groups and high-tourism regions.

 

BCREA emphasizes additional factors beyond housing affordability

 

During the analysis, BCREA emphasized the importance of considering the impact on provincial and regional economies when making policy decisions of this magnitude.

“While housing affordability is crucial, there are other factors in communities across B.C. that have been overlooked with the implementation of this policy,” said Trevor Hargreaves, BCREA’s senior VP of policy and research. “There are several necessary exemptions to ensure the success of this policy moving forward.”

Hargreaves added, “Some of these short-term rental units should indeed be used for long-term rentals, but there are legitimate reasons for short-term rentals that are no longer allowed under the current legislation.”

 



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Tags: AssociationBancallsestateprovincerealreconsiderrentalsshortterm
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