Provincial leaders say the new rules could open up as many as 19,000 units for long-term rental.
New regulations for short-term rentals (STRs) in British Columbia, Canada will include penalties of up to $10,000 per day for violations, reports Andrew Weichel for CTV News.
Provincial authorities say the goal is to open up the roughly 19,000 whole homes being used exclusively as STRs for long-term rental. “Under the new rules, hosts can still rent out their primary residence, as well as one "additional unit, secondary suite or laneway home" on the same property, according to the ministry.”
According to Weichel, “It's unclear which violations will potentially cost platforms $10,000 per day. The government has said companies will be required to share user data to help municipalities and the province conduct their own enforcement, as the regulations also give local bylaw officers the ability to impose fines of up to $3,000 per day on hosts.”
Read the full story: B.C.'s short-term rental regulations include $10K daily penalties for Airbnb, other platforms
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