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Vancouver to impose fresh Airbnb rules

Move comes amid public outcry over the lack of affordable homes; the city's June benchmark home price is C$998,700, up 7.9% from a year ago

Published Thu, Jul 6, 2017 · 09:50 PM
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Vancouver

VANCOUVER is set to introduce new restrictions on Airbnb Inc, Expedia Inc's HomeAway unit and other short-term rental operators as Canada's priciest housing market seeks to ease its near-zero supply of homes to let.

"Housing is first and foremost for homes, not to be operated as a business," Mayor Gregor Robertson told reporters on Wednesday.

Under the new rules, residents will only be able to rent principal residences and will be required to obtain a business licence and pay as much as a 3 per cent tax on stays. Rentals of secondary suites, laneway homes and investment properties will be prohibited. City officials said that they would be ready to pursue legal action against violators, as well as a C$1,000 (S$1,070) fine. The new regulations are set to be formally approved next we…

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