Hotels Win Against Airbnb in Vancouver
On November 14, the City of Vancouver passed legislation to regulate short-term rentals, allowing rentals only in one’s principal residence. This is great news for the hotel industry as this will eliminate the commercial side of Airbnb’s business (and other similar platforms) in Vancouver, which is currently competing directly with hotels. In addition, this will also open up over 1000 units of affordable housing for Vancouver residents, and for many Vancouver hotels, this will afford its workers a fighting chance at finding housing in, or at least closer to the city.
This new law comes into effect on April 1, 2018. After that point, homeowners and renters can only rent their principal residence short-term with a valid business license. Renting out commercial and investment properties, or second homes on a short-term basis will not be allowed.
HAC congratulates Vancouver City Council on approving the regulations and taking this first step to limit the use of home-sharing platforms to principal residences. Vancouver is moving in the right direction and paves the way for other jurisdictions to follow its lead. As municipalities across the country continue to grapple with this issue, HAC will continue to work with its coalition partners and hotel industry advocates in order to ensure fair rules and regulations are put in place for the hotel sector.