Homeowners groups in British Columbia will soon be able to fine owners or residents up to $1,000 a day for defying the corporation’s bylaws on short-term rentals.
The B.C. government says the regulations for the so-called strata corporations will be changed as of Nov. 30 to help the associations address short-term rentals, such as those arranged through Airbnb and other vacation websites.
Housing Minister Selina Robinson says in a news release that it’s common to hear stories of long-term renters losing their homes when units are pulled out of the market to be used as short-term rentals.
“We’ve all heard the stories of renters losing their homes when units are pulled out of the rental market to be used as short-term rentals. With this change, we can ensure there is long-term rental stock for people and families who need them,” said Selina Robinson.