Thousands of short-term rentals go back to long-term May 1: B.C. government
LANGLEY, B.C. — British Columbia Premier David Eby says his government is tilting the rules towards families who need a home, and speculators should invest in that instead of short-term rentals and houses to flip.
Eby made his comments today in advance of the rule changes on May 1 that limit short-term rental units to within the principal home of a host.
The government says figures gathered in March show more than 19,000 entire homes are listed as short-term rentals, something the new regulations aim to change.
Eby says if investors are building homes that people need, his government will do all it can to get that done as quickly as possible, but their real estate investments can’t be competing with people looking for a place to live.