ATTENTION Vancouver Investors & Landlords

Nov 15, 2017

Vancouver has banned owners of Basement Suites and Laneway Houses from listing them on Airbnb after a heated debate in which some city Councillors warned that homeowners would not be able to pay their mortgages without the extra income.

City council approved new regulations in a 7-4 vote Tuesday for vacation websites such as Airbnb and HomeAway. The rules prohibit hosts from listing homes that are not their principal residence, including any secondary suites on their property.

The new regulations will come into effect on April 1, 2018. Hosts must buy a business license that costs $49 annually, plus spend $54 on a one-time application fee, and display their license number in online listing(s). Those who fail to comply will face a $1,000 ticket per violation.


Source: Huffington Post Canada