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Homeowners who rent their condos on platforms like Airbnb and VRBO are about to face another hurdle, with the provincial government taking steps to ensure condominiums are in the long-term reserve . Real Estate Regulation announced on July 18, the lease of a condo unit on a short-term basis will be more clearly defined as a "commercial use" rather than a regular long-term rental. Although municipal by-laws permit regular rental, short-term rentals will be considered different and residents will be subject to heavy fines if the by-laws are broken. The current maximum fine of $ 200 per week for breach of short-term rental regulations will be increased to $ 1,000 per day.
"The new regulations will help define short-term commercial use as a different function of leasing," said Tony Gioventu, executive director of the BC Condominium Home Owners Association, who was at the announcement and who works with British Columbia The Government on the Changes
"For companies strata that prohibit the use in the short term, this is a valid amendment. Condominium corporations will need to amend their by-laws at a general meeting to allow for higher penalties, which will give strata an excellent opportunity to ensure that the stratum is in compliance with the laws. provincial.
The province also pointed out that short-term rentals may have other disadvantages, with the exception of retiring long-term rental fleet units. These problems, including the risks to the security of the building, are access to the building, noise problems with tenants who do not live long-term in the building, tenants who do not respect the building rules and the needs of residents.
Housing Minister Selina Robinson said, "We have all heard the stories of tenants who lose their homes when homes are removed from the rental market for use as short term rentals. With this change, we can ensure that there is a long-term rental stock for individuals and families who need it. As part of our 30-point plan to improve housing affordability in British Columbia, we help companies deal with the noise and safety issues that can be caused by short-term rentals and the need to preserve housing. long term rents. 19659002] The BC Government stated that the regulatory amendment would come into effect on November 30, 2018, "in order to allow short-term tenants to adjust their bookings and to comply with short-term rental regulations." a stratum. "
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