Some new rental regulations are taking affect here in British Columbia as of May 1st, 2024 & it is certainly stirring up some conversation. The intent from the provincial government is to stop real estate investors from buying up what is already a lack of inventory in the housing market, and turning them into AirBnB's, VRBO's, or other vacation based rentals. Did you know there is roughly 20,000 homes/units in the province being used for these purposes? The goal of this new legislation is that this will bring more inventory to the long-term rental market, as those rates have soared in the recent years. The hope is that bringing more inventory to the market will ease a bit of that pain. Additionally, the other idea is that investors that do have multiple properties, and don't want to play the landlord/long-term tenant game, might be more inclined to sell these places, in-turn bringing more inventory to the real estate market for buyers as well.
I will not get into my opinion on all of this, as that is not my intention of this post. Instead, I simply want to lay out the guidelines of this new legislation to make it easily understandable for those who wish to know the details around, what is allowed, what isn't and break the regulations down to digestible chunks. So that said, let's get into it.... 1. Definition of Short-Term Rentals Under the new regulations provided by the province, any rental arrangement with a duration of less than 90 days falls under the category of short-term rentals. This includes a wide range of accommodations, from vacation homes to spare rooms rented out on platforms like Airbnb. In the city of Vancouver however, a short-term rental is any rental under 30 days. 2. Location Restrictions One of the most significant changes is the restriction on where short-term rentals can operate. Hosts will only be permitted to offer short-term rentals in their principal residence plus one secondary suite or accessory dwelling unit. This means that if you're renting out a property, it must be your primary place of residence(where you receive mail, live majority of your year, are registered for taxes, etc.) with the option to rent out an additional unit on the property like a laneway house or garden suite. However, this is different in Vancouver for example. In Vancouver you can only short-term rent the actual dwelling you live in, and not a secondary unit like a basement suite or laneway house, those must be used for long-term rental(31 days or more). This can get quite confusing as there is quite a bit of variance throughout the province. That said, it is important to look into each areas guidelines, as communities are able to file for special regulations at a more local level. This especially applies to communities of less than 10,000 people or that heavily rely upon tourism. This link will lead you to an interactive map that provides the different information for different regions: https://www2.gov.bc.ca/gov/content/housing-tenancy/short-term-rentals/principal-residence-requirement#PRmap 3. Registration and Licensing Requirements To operate a short-term rental legally, hosts must obtain a valid registration number and a business license number. The registration process will require detailed information about the property, including the address, contact details, and a declaration confirming that it is the host's principal residence. Click here to apply for your permit in Vancouver. This is the first hurdle to clear if you are looking at doing short-term rental, if you are doing this from your principle residence and it is a detatched house that makes things a bit easier. If not, and it is an apartment, condo, or townhouse, you also have to look into strata by-laws, as those can also prohibit you to do short-term rental. Many buildings do not allow for it no matter if you are living in the place or not. 4. Enforcement and Penalties Some of these restrictions or regulations are not new but what is new is the provincial government getting involved and monitoring this much closer. With that the penalties for non-compliance have been drastically increased. The new regulations can result in fines of up to $3,000 per day, effective as soon as the Act receives Royal Assent, which is expected in the near future. It's crucial for hosts to ensure they meet all requirements to avoid facing hefty penalties. 5. Provincial Registry A provincial registry is set to launch in late 2024, requiring platforms like Airbnb to remove listings that do not have a valid registration number. This initiative aims to streamline the regulation process and ensure that all short-term rental operators are operating within the legal framework. 6. Local Bylaws While the provincial regulations set a baseline, local governments retain the authority to implement more restrictive bylaws based on their specific needs. Cities like Vancouver and Burnaby already have stringent regulations in place, allowing short-term rentals only in the principal residence and imposing additional restrictions on secondary units. In conclusion, the upcoming changes in BC's short-term rental regulations signify a shift towards more stringent oversight and regulation of the industry. Hosts must familiarize themselves with the new requirements and ensure compliance to avoid potential fines and penalties. Additionally, staying informed about any updates or changes to local bylaws is essential for maintaining legal compliance and operating a successful short-term rental business in British Columbia. Here are a couple links to the B.C. government websites that include this information: https://www2.gov.bc.ca/gov/content/housing-tenancy/short-term-rentals/short-term-rental-legislation Vancouver Specific: https://vancouver.ca/doing-business/short-term-rentals.aspx If you have any questions about these new regulations, I am happy to answer any questions. Additionally, I don't mean to spark any major debates here, but I would love to hear your thoughts on the whole thing. Feel free to drop your comments or questions below and I will address them. If you currently have short-term rentals and want to have a private conversation to further understand things, and come up with a game plan you can give me a call at 778-927-4306 and let's chat about the options for your scenario.
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Rainscreening of Apartments In Vancouver - What Is It? Why Is It Important? How To Spot It?10/26/2023 Vancouver, British Columbia, is known for its breathtaking natural beauty and lush landscapes. However, the city is also renowned for its frequent and sometimes heavy rainfall. This combination of stunning scenery and wet weather has inspired a unique architectural innovation in Vancouver apartments: rain screening. In this blog, we'll delve into what rain screening is, why it's crucial in Vancouver, and how it helps protect homes from the elements. The “Leaky Condo” in Vancouver Epidemic Leaky condos in Vancouver refer to a widespread issue in the 1990s and early 2000s when many multi-unit residential buildings, particularly condominiums, suffered from water ingress problems. This was primarily due to construction defects and inadequate moisture management, leading to structural damage and mold growth. Key points: Causes: Construction defects, including poorly designed or installed cladding and inadequate waterproofing, allowed rainwater to penetrate buildings.
Understanding Rain Screening: Rain screening is a building envelope design and construction method that effectively manages moisture and water infiltration in a structure. It is commonly used in regions with high levels of precipitation, such as Vancouver. This system is designed to create a protective barrier between the exterior cladding of a building and its structural components. It plays a vital role in preventing water damage, mold growth, and structural deterioration. Rain Screening Components A typical rain screening system comprises several components, each serving a unique purpose: Exterior Cladding: This is the outermost layer of the building, such as siding, stucco, or brick. It acts as the primary defense against the elements.
Why Vancouver Apartments Need Rain Screening: Vancouver's climate is characterized by mild, wet winters and a high annual rainfall average. This unique weather pattern poses specific challenges for building maintenance and structural integrity. Without proper protection, apartments in Vancouver can fall victim to water-related problems, including:
Rain screening systems offer several benefits that are essential for apartments in Vancouver:
In Vancouver, where rain is a common occurrence, rain screening is not just an architectural feature but a necessity for protecting apartment buildings from the harsh elements. It is a vital part of the construction process that ensures the longevity, energy efficiency, and overall health and comfort of homes in this beautiful coastal city. By incorporating rain screening into building design, Vancouver apartments can continue to stand strong against the elements and provide safe, comfortable living spaces for their residents. How can you tell if a property is rainscreened: Determining whether an apartment building has been rainscreened may require some investigation, as it's not always obvious from a casual visual inspection. As a real estate expert I am always here to make sure you as the client are fully informed about the status of a building, including whether or not it has been rainscreened. Rainscreen systems are now-a-days typically installed during initial construction, or as part of a building renovation which many condos, apartments, townhouses, or detached properties have more than likely undergone significant updates to ensure this is done. Here are some steps you can take to determine if a building has been rainscreened: Ask the Property Manager or Landlord: The most straightforward way to find out if an apartment building has a rainscreen system is to ask the property manager, landlord, or the building's owner. They should be able to provide information about the building's construction and any renovations or updates. Check Building Records: Building records and permits can provide valuable information about a building's construction history. You can contact the local municipal building department or visit their website to access records related to building permits and renovations. Look for documents related to rain screen installations or major renovations. Inspect the Exterior: While a casual visual inspection may not always be conclusive, you can look for signs of rainscreen systems. Some clues may include visible gaps or openings in the exterior cladding that suggest an air gap behind it. Modern buildings with rainscreens may also have a different appearance to older buildings, such as a layered or textured façade. Consult with a Building Inspector: If you're serious about a particular apartment and want to ensure it has a rainscreen system, consider hiring a professional building inspector. These experts are trained to assess the condition and construction of buildings and can provide information on whether a rainscreen system is present. Talk to Current Residents: If possible, speak with current residents of the apartment building. They may have insights into the building's construction history or any renovations that have taken place. However, keep in mind that this information might not always be accurate or complete. Review Maintenance and Repair History: If you have access to the building's maintenance or repair history, it can provide valuable information. Frequent repairs related to water damage, mold, or structural issues may suggest that a rainscreen system is lacking. It's important to note that the absence of a rainscreen system does not necessarily mean the apartment is unsuitable. Many older buildings in Vancouver and other areas have successfully managed moisture without rainscreens. However, a rainscreen system can provide added protection and may be a desirable feature, especially in a region with high rainfall like Vancouver. If the presence of a rainscreen system is important to you, it's best to verify this information through the methods mentioned above before making a decision about renting or purchasing an apartment. Talk With Your Realtor: It is literally our job to figure all this stuff out for you to ensure you are making a well informed decision. Today, improved building practices and regulations have addressed these problems for the most part. However, due diligence is essential when considering older condominiums to ensure any previous issues have been resolved, and the building meets modern construction standards. Any questions about this topic, please don't hesitate to leave a comment below and I am happy to address them.
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