This month, the Government of British Columbia has allowed one city to opt out of rules that limit short-term rentals, such as Airbnbs. With sunnier seasons coming up, it’s just in time for the influx of tourists heading to B.C. when the sun begins to shine more regularly.
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B.C.’s Short Term Rentals
On Friday, the B.C. Government announced that it was making a one-time allowance for Kelowna to opt out of rules limiting short-term rentals. The Housing Ministry noted that the exception recognizes major events that Kelowna has planned for its community in the upcoming summer months.
Currently, B.C. allows certain local governments to annually request to opt out of the principal residence requirement as long as the community has a rental vacancy rate of 3% of more for two consecutive years. The issue with this is that the resolution must be submitted to the Province by March 31st, with the approved change taking effect in November 1st of the same year. This is well after the busy summer season is over.
The province is now speeding up the opt-out process for other municipalities. The changes are expected to take effect in 2027. Eligible communities are required to submit its opt-out requests by February 28. The start date will begin on June 1 rather than in the fall.
The rules to limit short-term rentals were introduced back in 2023 in order to increase housing supply. Although, they’ve faced opposition from communities that rely on tourism.
“We welcome the considerate approach Kelowna is taking to remove the principal residence requirement from some buildings in the downtown core, while maintaining the requirement in most residential areas, ensuring sufficient homes are available for local residents,” Housing Minister Christine Boyle said in a statement.
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