Author: Ashley Joannou
Gandall, who lived in the Yates Complex for a decade, described the long wait, the package was lost and scratched from a large number of visitors using some of the 157 units as short-term rentals.
He said residents began calling their buildings “Ghost Hotels.”
“The main focus is on interruptions, maintenance issues and theft issues. Our lockers do have more break-ins,” he said.
“There is some vandalism in the park, and we think that’s also because when you have short-term renters it’s much easier for short-term renters to get others into the building.”
Gandell said things have improved in the year since British Columbia’s implementation of short-term rental breaches regulations, and it seems that more time units have been used for a long time. But that doesn’t completely stop people from trying to avoid the rules.
“My impression is that people have been on significant (short term rental) activity since the passage of provincial legislation in May last year, coupled with some initiatives from the local city council, not only in that era, but also when I talked to other relevant residents of some of the other major high nobles.”
The regulation came into effect on May 1, 2024 and covers most communities of over 10,000 people. They limit short-term rentals to structures like primary residences, secondary suites, or lane-door houses on that property.
British Columbia Housing Minister Ravi Kahlon announced his victory, pointing out rents fell and thousands of units were removed from sites such as Airbnb and Vrbo. But experts say market forces are too complex to provide a factor for change.
Caron said properties that used to be on the market or used as long-term rentals on short-term rental sites in the past.
“All of my colleagues have stories from their communities that are entering the previous short-term rentals that can now be used for families for a long time,” the minister said in an interview earlier this month.
“And, we’re seeing rents drop across the province in every neighborhood.”
The property owner must add his property to the scoped registry by May 1 in order to be able to legally use it for short-term rentals.
Caron said about 15,000 properties were on the registry in early April, and his office reported that registration fees were charged more than $3 million.
“Before launching the registry, we estimated that around 22,000 short-term rentals were on different platforms. So far, we have registered 15,000, so we (having) about 7,000 operators that have not applied for, or perhaps have not decided not to stay in the short-term rental business. So that’s important.”
Landlords who do not register their property will cancel their listings starting May 1 and cancel their reservations starting June 1.
Data provided by the Department of Housing shows that from May 2024 to February 2025, the number of entire properties listed on short-term rental locations in many communities has dropped significantly.
The department said such listings in Kelowna fell 31%, while Victoria’s listings fell 24%, and Vancouver’s listings fell 22%.
According to the data, the community also found that the vacancy rate increased from 2023 to 2024.
According to the list posted on the website, average rents in BC fell by 0.6%, while Vancouver fell by 5.7%, and average rents in BC fell by 0.6%. This is the 16th consecutive decline in apartment rentals in the city, and it has had various short-term rental rules since 2018, although it remains Canada’s most expensive rental venue.
The website’s monthly report says average rents in Canada fell 2.8% to $2,119 in March. Rents for apartments in Toronto fell 6.9%, the city’s 14th consecutive decline, and recently imposed restrictions on short-term rentals.
But this is not one-way movement. Rents in Victoria rose 3% in March. In February, Canadian mortgage and housing companies predicted that while vacancies in BC will see higher vacancies in the coming years due to lower population growth, average rents will rise due to more new, higher-priced units listed.
The company’s latest rental market report (fall 2024) says average rents for two-bedroom apartments have increased by 5.5% from the same period last year, although this growth rate has slowed down.
Andy Yan, director of city planning at Simon Fraser University, said that while some data suggests a drop in rent and apartment prices, there are too many competitive factors that cannot be specifically attributed to short-term rental rules.
Other factors may include interest rates, general economic conditions or changes in immigration, he said.
“There is a lot of noise trying to figure out what the signal looks like. I think it’s a huge challenge and it’s really trying to filter out a year since a few times,” he said.
Will Gladman of the Vancouver Tenant Union said its members did not report rent declines, but were “quite reliable” people were added.
He said even if some figures indicate a slight decline in rents, the cost of living in a city is still high.
“(It’s) still incredibly expensive and unreachable, even for people who get pretty good income in the city,” he said.
Gladman said the organization does not expect changes in short-term rentals to make a significant change, although they agree with any improvements that do not involve replacing people from home.
“From our perspective, these units are wasted and are now becoming homes for people.
“But when you have a provincial government trying to rely on this supply adjustment, and despite that, relying on the market to provide some affordable housing strategy, we will never expect it to go very far.”
Brendon Ogmundson, chief economist at the British Columbia Real Estate Association, said that while the government’s goal of increasing housing supply is understandable, the rules may do more harm than good given the impact on the tourism industry.
He said the extent of rent declines has more to do with factors such as new units hitting markets and population growth, especially among groups with higher rental demands, such as international students and temporary foreign workers.
“It’s hard to determine the impact (how much is the new law has produced). My guess is small. It’s certainly going to affect the tourism industry. Getting hotels in a lot of areas now isn’t a lot of options. But I don’t think it has a big impact on the inability to afford rents,” he said.
In Victoria, Gandel fears that as hotel prices rise, the government may induce some short-term rental rules to retreat.
British Columbia Prime Minister David Eby said in an interview with Chek News this week that the government will reduce restrictions on short-term rentals when the province “restores healthy rent levels in the community.”
Gandel said Airbnbs is still running in his building. He also suspects that not everyone is honest when they claim a unit as their primary residence.
But Caron said the government is underway to confirm whether short-term rentals are eligible.
The minister said there will always be people looking for ways to violate the rules, but the fine ($5,000 a day, $5,000 for those caught) is a major deterrent.
“I think we’re going to see other provinces that will go in the same direction as us,” he said.
“What we hear from local government partners, in particular, the system works better in their communities and we will continue along this path because ensuring people have affordable housing in our communities is the right choice.”
Visited 24 times today, 24 times today
Airbnb Ashley Joannou Asks BC Real Estate Association BCREA BRENDON OGMUNDSON Ravi Kahlon, British Columbia Rental Price
Last modified: April 24, 2025
