The City of Victoria has moved to regulate short term rentals offered on website like Airbnb. It's estimated there are 1500 so-called "unique" listings in Victoria being offered as short-term rentals.
Changes would limit short-term rentals to those where a principal resident is living. The principal residents requirement is intended to prohibit short-term rentals in investment properties and commercial operations, as well as apartments, secondary and garden suites not occupied by a long term resident."
As well, operators would have to obtain a business license and pay an annual fee ranging from $200 for occasional renters, to $2500 for suites that operate year round. The latter applies to units already zoned as transient accommodation.
Short term rentals in condos, or rental properties would require proof from the strata council and landlord that they are permitted to operate. Condos already being operated as short-term rentals will be grandfathered in, but would loss status after 6 months if they don't continue to operate.
As well the city will ask the province to classify properties being used for short-term rentals as commercial by the B.C. Assessment Authority, something that would significantly increase property taxes for those properties.
City Hall will enforce the new rules by using additional staff and a third-party agency to monitor and track non-compliance. Many councillors felt enacting regulations would clamp down on the fast-growing trend, reduce impacts to nearby residents, and direct available rental suites back into the tight long-term rental market in Victoria.