19 Jul

Defiant Airbnb hosts could face strata fines up to $1K per day

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Posted by: Jordan Thomson

The province of BC has amended strata property regulations, effective Nov. 30th.

Currently, in any buildings that have a ban on short-term rentals, the max that they can penalize the owner is $200/week. The new regulations will see this increase to $1,000/day. The government’s hope is that this will be a true deterrent and that rental stock will move from short-term rentals back to long-term rentals. Whether you agree or not, this is important information for any one who own rentals or are contemplating a rental purchase and who plans to have short-term rentals.

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For more information on how I can help you fund your rental purchases and refinances while increasing your cash flow, please reach out at jordan@citywidemortgage.ca or call me on 604.725.1607.