How to Deal With Short-term Rentals: How About a $1,000 fine… Per Day?
We know that many of you have already read the news on this subject as our phones have been ringing this morning, trumpeting in the welcome arrival of some long overdue ammunition for those strata councils and ownership groups dealing with headaches related to AirBnB and other short-term rental platforms and vacation websites. Now, not all strata corporations are having an issue with short-term rentals and some of them are finding a way to co-exist quite nicely. Others are fully embracing short-term rentals through community decisions and bylaws specifically allowing for them. However, for many of those dealing with the rapid turnover of short-term rental units where the individuals involved are concerned exclusively with generating revenue- showing little care for violations of established rules, the strata corporation bylaws, neighbours, security issues, noise and/or damage to common property- this (soon to arrive) new ability for strata councils to fine owners up to $1,000 A DAY for defying a strata corporation’s bylaws on short-term rentals is being met with significant enthusiasm.
There are many articles containing the same information from the announcement made by Housing Minister Selina Robinson and here is one from the Financial Post:
It is important to note that a bylaw amendment will be required to increase the fine to $1,000 for short-term rental violations, and that bylaw won’t be effective until November 30th, later this year when the Regulations to the Strata Property Act are updated with this new maximum fine.
Another tidbit is that with this new classification of short-term rentals as a “commercial” operation, Owners could face significant tax hikes if their property is reclassified from residential- up to 300-400% according to some sources!