In defense of short-term rentals in Vancouver: The main point The Columbian has made is STRs negatively affect the supply of affordable housing in Vancouver. However, the math doesn’t support this theory.
Short-term rentals represent no more than 0.5 percent of all housing units in Vancouver, and approximately 50 percent of those units are rentals. STRs at most represent a mere 1 percent of total rental units in the market. Hardly a figure that would support the false notion they significantly affect housing costs in Vancouver.
Targeting STRs will not solve the problem of affordable housing here. STRs are mostly mom-and- pop operations who own a second house and want the flexibility to use their property as they see fit, allowing visiting friends and family a place to stay when in town and helping to pay expensive property taxes.
The Columbian citing the Harvard study is comparing apples to oranges. Vancouver is not New York City. I agree STRs should not be party houses and there should be reasonable regulations to operate STRs here. Banning them or requiring landlords to live on site are not the answers.
STRs provide an affordable way for people to visit this wonderful city and come for weddings, graduations, reunions or other family functions.
