New Rules for Short-Term Rentals In Around Town
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In an effort to divert short term into long term rentals, the Province is implementing a ‘principal residence’ requirement. This regulation will limit short term rentals to a property where the owner lives for the majority of the year, and applies to communities with more than 10,000 residents.
The Short-Term Rental Accommodations Act will strengthen local government tools to enforce short-term rental bylaws by increasing fines and tickets, giving new business licensing authority for regional districts, data sharing, and in jurisdictions where a business license is required to operate that number must displayed on a short-term rental listing.
Future regulations are anticipated to provide potential exemptions within some areas including Islands Trust, Mountain Resorts, and Resort Municipalities such as Ucluelet and Tofino. There are also provisions for communities under 10,000 residents to opt-in or out of the legislation based on local conditions.
The regulations and responsibilities under the proposed Act will come into effect at different times over the next two years through a phased approach. For more information, go to: www2.gov.bc.ca/gov/content/housing-tenancy/short-term-rentals
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