The City of Vancouver and Airbnb have finally reached an agreement regarding the city’s short-term rental regulations. So, what does that entail and what do owners need to do to list on Airbnb’s Vancouver platform?
Firstly, the city describes a short term rental as a home or room in a home that is rented for 30 days or less at a time. As part of the new regulations, these short term rentals may only be primary residences; secondary residences are not applicable at this time. Airbnb will require new Vancouver hosts to display a business licence as part of their profile and existing hosts have until August 31st to obtain their licence and post on their listings. The business licence will require a one time fee of $56 and an annual fee of $49. Those who don’t operate their short term rental with a licence will face a $1000 PER DAY fine. After August 31st, any listings without a licence will be deactivated. Once operators receive their licence, the listing can be reactivated by entering their licence number to the platform.
The city will be working with Airbnb in enforcing these new regulations at the highest level to identify any illegal operators.
If you’re thinking of renting out your home or future home on Airbnb Vancouver, click on the link below for a list of requirements to determine if you are eligible.
Any questions? Give me a shout!
Realtor and Olympic Village Specialist