Do you know the breaking news about the changes for Airbnb in Vancouver?
Vancouver has just become the first major Canadian city to pass regulations on short-term vacation rentals. Companies like Airbnb, HomeAway, and VRBO feel the pressure by this change. Vancouver is a highly-populated city with very few vacancies for people seeking long-term rentals. Because the rental market is so oversaturated, City Council voted to restrict Airbnb in Vancouver as well as other short-term rentals, freeing up over 1,000 residences in the area.
Now individuals looking to host on Airbnb in Vancouver can only do so in their primary residences. If you’re renting out a room in your home or the entire home when you’re on vacation, you may continue to do so. But dedicated Airbnb investment properties are no longer permitted. This is a significant change for the city and will affect the long-term rental landscape.
Pro tip: Looking to switch it up? Read more about the best cities for Airbnb in the United States.
Changes the permitting procedures
In addition to the changes in who can rent their homes on Airbnb, Vancouver also made changes the permitting procedures. In order to be allowed to host guests on Airbnb in Vancouver, you will now need to get an annual license, pay a one time fee and display a permit number on your Airbnb listing. If you fail to comply, you can face fines of up to $1,000.
Protip: If you use Airbnb in Vancouver, it is the best time to consider Hosty. Hosty is the vacation rental management software that can help you run your business with ease. Organize rentals, message guests and change prices across all of the vacation rental channels you use. As the market becomes more competitive, use Hosty to gain the advantage over other vacation rental managers.
Changes to the way that Airbnb can operate in Vancouver is interesting to note because it’s happening in other large cities as well. As the industry changes, similar changes will happen all throughout Canada and the United States. The best way to be in the know? Keep us around! Stay informed of changes by reading Hosty’s blog regularly. And while you’re at it, click here to start your free trial of Hosty! As the industry gets more competitive, you need to make sure you’re doing everything you can to be the best host you can be, and Hosty is here to make sure that happens.