Thousands of Vancouver landlords moving from Airbnb-type rentals to long-term tenants
Condo and office towers are seen in downtown Vancouver, with the snow-capped north shore mountains in the distance, on Saturday, Jan. 9, 2021. (Darryl Dyck / THE CANADIAN PRESS)
Vancouver's annual report on its regulation of short-term rentals, such as Airbnb, shows thousands of landlords have moved to long-term rentals.
The city brought in regulations on short-term rentals in 2018 in an effort to boost long-term rental stock in Vancouver.
The report says the city issued over 12,500 business licences for long-term rentals in 2020, an additional 297 from the year before.
The report says despite COVID-19 and the plunge in short-term rental activity last year, there was continued use of such rentals, indicating the accommodations will be an integral part of the city in future.