BC says 10% of former short-term rentals back to long-term housing thanks to Airbnb crackdown

The Government of BC reports that last year's crackdown on Airbnb and short-term rentals has resulted in many homes becoming available for long-term rental. Since new rules took effect in May 2024, 10% of short-term rentals have returned to the long-term market or been sold. This has contributed to a decrease in rental prices, with two-bedroom apartments now 10% cheaper. New regulations require hosts to rent only their principal residences and have led to the launch of a provincial registry for short-term rentals, with penalties for non-compliance by May 2025.