due to municipalities having so much variation in resources, according to the panellists.Īpproximately 50 local governments in B.C.
However, problems arise when it comes to enforcement of these policies across B.C. government and UBCM have put in place policies and recommendations. In order to preserve long-term rental stock, both the B.C.
In 2022, Vancouver's rental vacancy rate fell to 0.9 per cent, according to the Canada Mortgage and Housing Corporation. That is equivalent to roughly two per cent of the 670,000 units in the province’s long-term rental market. McGill University states short-term rentals removed almost 14,000 units from B.C.'s long-term rental market in 2021. That's according to a panel discussion on April 5 at the Union of BC Municipalities (UBCM) housing summit in Vancouver. Even though B.C. is on track with their policies to target short-term rentals like Airbnbs, issues still persist when it comes to enforcement and compliance throughout municipalities.
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