- The BC Government passed new regulations on Short Term Rentals:
- Purpose of New Rules: The new rules aim to empower local governments, return short-term rental units to the long-term market, and establish provincial oversight.
- Applicability: The rules apply to all short-term rentals offered to the public through various platforms and listings but exclude specific categories like hotels and reserve lands.
- Strengthening Local Government Tools: Local governments will have increased fines, business licensing authority, and the ability to regulate short-term rentals.
- Principal Residence Requirement: Short-term rentals will be limited to the host's principal residence and one secondary suite or accessory dwelling unit, with potential exemptions for certain areas.
- Provincial Oversight: A short-term rental registry will be established, requiring hosts to include a provincial registration number, and a compliance and enforcement unit will track compliance and issue penalties.
- Timeline: The regulations will be phased in over two years, with immediate changes in fines and business licensing, the principal residence requirement starting on May 1, 2024, and the provincial registry launching in late 2024.
- Legal Implications: Short-term rentals generally fall outside the scope of the Residential Tenancy Act, and legal advice is recommended for any uncertainties.
Do the new BC Government regulations change the Municipal Requirements?:
No, it's crucial to understand that short-term rental hosts must adhere to municipal regulations. What's essential to note is that the forthcoming provincial legislation may introduce even more stringent rules compared to the City of Victoria bylaws. Once this legislation takes effect, compliance with it will be mandatory, alongside the necessity of holding a valid municipal business license for operating short-term rentals.