Province moving forward on short-term rental rules

British Columbia's government has set a deadline of May 1, 2025, for all short-term rental hosts to register their listings in a bid to combat illegal rentals and increase long-term housing availability. Currently, more than 20,000 listings have been registered, reflecting ongoing efforts to convert short-term rentals into homes. In response to technical requests from rental platforms, the deadline for validating registration numbers has been extended to June 2, 2025, with penalties for non-compliance. Furthermore, platforms must cancel bookings from hosts without valid registration numbers by June 23, 2025. Since the new regulations were implemented, long-term rental rates have fallen by 6.

1% statewide and 11. 4% in Vancouver, demonstrating the initiative's effectiveness. The provincial government is investing $19 billion through the Homes for People Plan, aiming to deliver thousands of homes over the next decade. The vacancy rates have also improved, rising from 1. 2% in 2023 to 1.

9% in 2024. These actions signify a focused effort to enhance housing availability in British Columbia.