VANCOUVER (NEWS 1130) – One year after Vancouver started licensing short-term rentals like AirBnB or Expedia, the city has seen the highest rate of owners following the rules of any major North American city.
Vancouver’s first year of licencing rentals is seeing a 73 per cent compliance rate.
Numbers released by the city show 1,600 addresses still need to be reviewed, and since the spring there’s been a tenfold increase in suspensions and voluntary cancellations.
“We know that short-term rentals in Vancouver are an ongoing concern for many residents and the City has been at the forefront of addressing this global trend,” said Mayor Kennedy Stewart.
“A year into our regulations we’ve seen promising results from our enforcement efforts and I’m looking forward to seeing how our approach continues to adapt to put the needs of Vancouver’s long-term renters first.”
A year after #Vancouver stars licensing short term rentals, compliance at 73%. City staff say active listings online down to less than 5900 from more than 6600 in August last year. One commercial operator fined $40K and legal action taken against 100+ other listings. @NEWS1130
— Marcella Bernardo (@Bernardo1130) September 5, 2019
Legal action has also been taken against more than 100 listings including one commercial operator fined $40,000 for repeatedly violating rules.
There are currently close to 5,900 active listings online and updated proposals for enforcement will be reviewed by city council this fall.
That’s dropped about 700 from this time last year.
“This is a dynamic market with operators and listings continually shifting. Our approach over the last year, and in particular the adaptations we’ve made in the last five months, reinforce that our efforts are working and will continue to evolve as we go forward,” said Kathryn Holm, Chief Licence Inspector.