The B.C. government outlined substantial measures to regulate the short-term rental housing market. (File Photo/NanaimoNewsNOW)

By NanaimoNewsNOW Staff

STR rules

Provincial legislation introduced to regulate short-term rentals in B.C.

Oct 16, 2023 | 12:29 PM

NANAIMO — Citing depleting long-term rental stock due to sharp growth in the short-term rental (STR) market, the province introduced legislation which would vastly alter how the sector operates in B.C.

On Monday, Oct. 16 the B.C. government outlined its plan “to return thousands of homes” to the long-term housing market with the introduction of numerous proposed measures, including requiring STR units to only be offered on the principal property of the host in municipalities with 10,000 or more people.

The province defined principal property as a home containing a secondary suite, or laneway/garden suite on the property.

The Short-Term Rental Accommodations Act will cover both the City of Nanaimo and City of Parksville, while the Town of Qualicum Beach is also being included due to its proximity to Parksville.

Areas exempt from the principal property residence requirement include regional districts, resort communities and municipalities under 10,000 people.

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All STR hosts and platform services in B.C. will will need to apply for and be granted a provincial registration number.

The province anticipates the provincial registry will be in place late in 2024.

Primary aspects of the proposed Short-Term Rental Accommodations Act. (B.C. government)

A provincial STR rental compliance and enforcement unit is pledged to be launched.

STR platforms would be mandated to share information, including about its STR hosts, to the province to assist in enforcing provincial regulations.

STR operators caught breaking local STR bylaws can be fined $3,000 per day of infraction, up from $1,000 per day currently.

Earlier this year the City of Nanaimo required STR operators to be licensed. As of Oct. 16, the City has awarded 271 business licenses to rental operators.

Under the proposed provincial legislation, STR platforms will be required to only advertise compliant listings as indicated by a provincial host registration number.

Business-licensing powers would be granted by the province to regional districts for STR’s.

The legislation does not apply to motels or hotels, while communities on First Nations land will be exempt.

Premier David Eby stated the growth in STR offerings in the province has ballooned in recent years, removing thousands of long-term homes from the market.

“That’s why we’re taking strong action to rein in profit-driven mini-hotel operators, create new enforcement tools and return homes to the people who need them.”

According to the province, there are about 28,000 STR listings in BC, an increase of 20 per cent from a year ago.

A detailed technical briefing on how the Short-Term Rental Accommodations Act would work in B.C. can be found here.

Projected timeline of when proposed STR legislation in B.C. would come to fruition. (B.C. government)

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