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Business Licences Now Required for Airbnb Short-Term Rentals in Vancouver
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(Posted on Nov 16, 2016 at 05:00AM by Michelle Bogle)
In recent years, there has been a sharp increase in online platforms, such as Airbnb, that allow people to rent out rooms or suites on a nightly basis to tourists and business travellers.In fact, according to the City of Vancouver, there are currently more than 5,000 active short-term rental listings in the city.
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As a result, a new proposal is being put forward where proprietors must obtain a new business licence that will allow short-term rentals (less than 30 days) in principal residences, whether owned or rented.Â
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"Vancouver is striking a balance in our approach to short-term rentals that ensures the best use of all our housing. Long-term rental supply will be protected and residents will be able to do short-term rentals in their principal residences," says Mayor Gregor Robertson. "Housing is first and foremost for homes, not operating a business. Both our research and broad public input tell us we can have short-term rentals in Vancouver to help supplement income, while ensuring long-term rentals are back in the rental market."
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Under the proposed policy, principal resident owners and renters who wish to list part or all of their home on a short-term rental site will:
• Require a business licence
• Have to post their license number in any advertisements for the rental
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To obtain a short-term rental business licence, principal residents would need to prove:
• Control of the home they propose for short-term rental, through a copy of title or tax assessment (owners), or signed tenancy agreement (renters) that permits short-term sublets
• The property's strata by-laws must not prohibit short-term rentals
• Regular personal business at this address, through a valid government ID with photo and address and a utility bill or piece of government correspondence dated within the last three months
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Short-term rentals would remain illegal in homes that are not principal residences, including empty and investment properties, or structures, such as boats or trailers, that are not considered dwellings.
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Short-term rental licensees may also be subject to a hotel or other tax that will be re-invested to fund affordable housing initiatives in the city.
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Staff are seeking approval on the proposal and will consult with stakeholders, including Airbnb, other listing sites, and the hotel and tourism industry, on implementation and enforcement of the new regulations.Â
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A final recommendation with go-forward steps will be announced in Q1 2017.Â
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For more information regarding short-term rental regulations in Vancouver or multi-family and hospitality investment opportunities across British Columbia, please contact our office to speak with an advisor.
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