B.C. short-term rental rules a ‘tiny amount’ of what’s needed: Experts

Experts say the provincial government’s proposed legislation aimed at restricting short-term rentals is a welcome first step — but it doesn’t go much further than that.

Peter Waldkirch, director of Abundant Housing Vancouver, says the increased restrictions on short-term rentals, such as Airbnbs, are encouraging, but it’s only a smidgen of hope in the greater picture of the province’s housing crisis.

“The amount of homes that can be returned to the market by cracking down on Airbnb is only a drop in the bucket of Vancouver’s and other cities’ housing needs,” Waldkirch said. “While this is welcome, it’s really only a tiny amount of what we need.”

On Monday, the B.C. government proposed a crack down on short-term rentals by tabling legislation to create more “long-term homes.” The legislation will include increasing fines and strengthening tools for local governments; returning more short-term rentals into long-term homes for people; and establishing provincial rules and enforcement. Currently, the provincial government says 40 to 50 per cent of short-term rental listings are non-compliant with its new legislation.

“People will no longer be able to buy multiple properties and use them for STR platforms to make huge profits while taking away homes for people who desperately need them,” Housing Minister Ravi Kahlon said.

But Waldkirch says the legislation is not nearly enough to make a difference when considering the number of homes Vancouver and B.C. need built, as soon as possible, to remedy its housing crisis.

He refers to ending Vancouver’s “apartment ban,” or single-family zoning rules, as an action that could have a more measurable impact in alleviating some of the pressure on the city’s housing stock.

Waldkirch says the strengthening of enforcement and information gathering tools for local governments across the province is the “most welcome part” of the legislation and he’s excited to see smaller communities benefit from this influx of data.

Andy Yan, director of the city program at Simon Fraser University, says he’s also excited for the information and data on short-term rentals that’s expected to come out of this new legislation, because he thinks it will help ensure accountability and transparency is a part of this proposed legislation.

Yan says it’s important that this new legislation didn’t involve an outright ban on short-term rentals. He says its targeting of properties bought specifically for short-term rentals, rather than a laneway home or basement unit that’s part of a permanent residence, is encouraging and important.

“Short term rental does serve a function, especially in smaller communities that might not have the tourist infrastructure,” Yan said.

Waldkirch adds that there’s also a large demand for short-term rentals in Vancouver because of its “desperate shortage of hotel space” which harms the city’s economy.

Overall, Waldkirch says he thinks British Columbians should manage their expectations of this proposed legislation if it’s rolled out.

“This isn’t something that’s going to make a major difference to the housing crisis,” he said.

The bill will move to a second reading in the legislature on Tuesday.

-With files from Charlie Carey and Liza Yuzda.