Provincial & Federal Restrictions For Short Term Rentals, Zoning & Taxation

Episode 125 Parker discusses the B.C.'s short-term rental legislation ( Which will Include Kamloops BC ) , Municipal upzoning regulations due to hit the mainstream June 30 2024 & The vacancy tax and how that may effect Kamloopians. Last updated on May 9, 2024 Like many jurisdictions, B.C. is regulating short-term rentals to help return more short-term rental units into homes for people. Learn more about B.C.'s Short-Term Rental Accommodations Act and regulations on this page. Overview of B.C.'s Short-Term Rental Accommodations Act Returning short-term rental units to the long-term market Strengthening local government tools to enforce short-term rental bylaws Establishing Provincial oversight of short-term rentals Short-term rentals versus tenancies The purpose of the Act is to: Return short-term rental units to the long-term housing market Give local governments stronger tools to enforce short-term rental bylaws Establish a new Provincial role in the regulation of short-term rentals The Act applies to short-term rentals being offered to the public including: Platforms where people reserve and pay for the accommodation, for example, Airbnb, VRBO, Expedia, and FlipKey Offers on other web listing forums, for example, Facebook Marketplace, Kijiji, and Craigslist Listings in classified ads in newspapers The Act will not apply to: Hotels, motels , Reserve lands Nisga’a Lands or the Treaty Lands A vehicle, such as an RV A tent or other temporary shelter B.C.'s short-term rental legislation Last updated on May 9, 2024 Like many jurisdictions, B.C. is regulating short-term rentals to help return more short-term rental units into homes for people. Learn more about B.C.'s Short-Term Rental Accommodations Act and regulations on this page. Increased fines and tickets The maximum fine that regional districts can set for prosecutions of bylaw offences under the Offence Act has increased from $2,000 to $50,000.