Greater restrictions around short-term rental properties seems inevitable.
A McGill University professor has found some eyebrow-raising numbers regarding short-term rentals in B.C.
…“The report underscores the need for the Province of B.C. to implement a province-wide short-term rental registry and platform accountability measures to save tenants billions in rent and address housing supply, attainability, and affordability,” the study said. Here is a direct video link.
BC and Ontario are doing everything in their to screw landlords. Costs are up more than 10% and rent increases are limited to 3.5. Tenants can not pay rent for 6 months to a year. Damage deposits are way too low and often can’t be withheld if disputed.
Landlords have to be insane to rent long term and should sell out if they can. It is only going to get worse.