What you Need to Know about the New Short Term Rental (AirBnB) Rules in Vancouver
Back in November, the City of Vancouver approved new rules around the use of Short Term Rentals (i.e. AirBnb). Those rules finally come into play next week so anyone who plans on renting out their unit short term (i.e. for under 30 days per lease) needs to be aware and up to date to avoid any fines or issues with the city. Remember, your neighbours, or even your guests, can report you if you’re not following the rules, so you’ll want to make sure you’re going about this properly.
Check out the City of Vancouver website with regards to Short Term Rentals to find out if you’re eligible (through a quiz and example scenarios) and what you need to do to be approved. Here is some information (from the City of Vancouver website) to give you an idea of what Short Term Rental licenses require.
Note that most condo buildings in Vancouver are prohibiting Short Term Rentals so beyond what the City allows, your condo building may not allow it – check the building bylaws to see if there is a restriction on the length of lease allowed in the building, or other rental restrictions that may not work with a Short Term Rental scenario. Your Strata can charge you Bylaw Fines if you are caught breaking the rules (the bylaws will state the amount of fines and what happens if you don’t pay up). You’ll also want to make sure your Short Term Rental is properly insured so that you’re covered in the event something happens while it is in use (FYI – if you don’t have a proper business license to run a short term rental, your insurance may not cover issues that occur while it’s rented out, so beware of illegally renting our your suite!).