![]() ![]() Officials also said 42 per cent of Victoria’s short-term rental-licence holders live out of town. They are coming in short order, with the first batch due this fall.Īlthough 30 municipalities have bylaw restrictions on short-term rentals, government-compiled data suggests they are widely ignored. There are multiple issues and grey areas - unique strata-titled properties in Parksville, for example - that will be addressed with regulations. But there are still people who are desperate for housing that could use … even 440 square feet.” “It’s not an ideal square footage for a lot of families, I get that. Kahlon said 440 square feet is still bigger than the RVs some people are using because they can’t find a place to live. Many of them are micro-suites purpose-built for short-term stays and are little more than hotel rooms. The viability of the units for long-term use is also open to question. She said all MLAs have heard from people who have lost up to 30 per cent of their equity in recent months. The main point of the law is to “try to get more housing back to people in our communities.”īut opposition critic Karin Kirkpatrick said that presumes owners’ costs will be covered at a time when interest rates have gone up and more recent buyers bought in at a premium. “Prices have gone up significantly, so I just won’t accept the premise that people are going to lose money on their investments.” Kahlon said: “It is too early to assume that people are going to lose money on their investments.” ![]() It gave only hours for the owner to accept. That is the hope, but whether it works as intended is up in the air.Ī person familiar with the market said one owner listed a unit for $445,000 a few months ago and got a relatively low-ball offer this week for under $400,000 from a company with no visible presence in B.C. “What we’ve seen in just the last 48 hours is an increase in listings of people selling in those buildings, and so either it will become a rental for somebody who needs it in our community or it’ll become a home for somebody else.” There was an immediate impact on the market right after introduction of the bill, he said. Housing Minister Ravi Kahlon said owners have the next six months to decide whether to rent to long-term tenants or sell their units. Premier David Eby took those owners on directly last week, when he said the law is aimed at “profit-driven mini hotel operators.” That municipal “legal non-conforming” designation will be supplanted in May by provincial law banning short-terminal rentals except in primary homes and one secondary suite. But the arguments are far from over, particularly about the estimated 1,600 units in Victoria that were allowed to carry on as short-term rentals after earlier municipal restrictions were imposed. The bill passed through the legislature this week in relatively short order. government’s new law to suppress short-term rentals. Potential unintended consequences highlighted the last few hours of debate on the B.C. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |