'We have been bullied': B.C. short-term rental legislation sends waves through housing market

  • 📰 CTVNewsVI
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 68%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

A little more than two weeks have passed since the B.C. government rolled out proposed legislation to crack down on short-term rentals in B.C. in an effort to correct the ongoing housing crisis. Now the dust has begun to settle and the impacts of that proposed legislation is beginning to come to light.

A little more than two weeks have passed since the B.C. government rolled out proposed legislation to crack down on short-term rentals in B.C. in an effort to correct the ongoing housing crisis.Three and a half years ago Steve Gordon and his wife, Sharon, retired. The couple sold their home in Esquimalt and bought two condos – one in Squamish and a small unit in the Janion building in downtown Victoria.They call themselves collateral damage of the province's crackdown on short-term rentals.

Rentals.ca has crunched it’s October numbers and in B.C., rental units listed on its platform are up 21 per cent. It is unclear how many of those units were short-term rental converts. “It’s not the low-income units that we really need,” said King. “I think you’re going to see some of these short-term rental operators moving into the long0term market and having to adjust and realize that they’re not going to make as much with long0term rentals.”

Toronto resident Francis Ngugi has been sentenced to life in prison, with no chance of parole for 17 years, after pleading guilty to the fatal poisoning of a Scarborough toddler's breakfast cereal in 2021.The office of Ontario’s auditor general has confirmed it is looking into the provincial government’s controversial plans to redevelop Ontario Place and move the Ontario Science Centre to the waterfront.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 28. in CA

Canada Canada Latest News, Canada Canada Headlines