AirBNB Ban is the way to go, at least in my city. More and more younger people are talking about taking a rental apartment and earning money with AirBNB instead. Sure, there is tourism in my city as well as many trade fairs, but there are also many hotels that usually cover this need. So who needs people to take rental apartments off the market to rent them out at high prices?
Mixed bag on this. But look at it from a zoning perspective. Short term rental property is a motel which is commercial for most states. I assume that this is the same for Canada. Local zoning boards are empowered to look at the mix of properties such that they follow community master plans otherwise they have to grant variances. What the board can grant, they can withhold.
This government has actually been bad news for renters, as landlords are exiting and the law of supply and demand says the next rental will be harder to find and much much much more expensive. My properties get a reno and sky high rent increase - if I keep it - when a tenant rotates out after years of locked down rent increases. * With increasing property taxes and administration costs from Govt overreach - then eventually just like any business, this gets passed along to the consumer. If the risk of fully locked down rent increases then I will accelerate diversification out of the fixed-assets of over-controlled BC rental property. * For my part, there are four of my assets which have transitioned by sale from rental stock into private home-ownership and a few more will go the same way as I distill down my fixed investments in BC and move to more business friendly avenues. Great work Woke virtue-signalling beaurocrats - watch it burn.
Thanks for sharing these insights!
Only people i feel sorry for are the ones mortgaging their own home that they live in.
These Airbnb "landlords" can pay their own bills.
AirBNB Ban is the way to go, at least in my city. More and more younger people are talking about taking a rental apartment and earning money with AirBNB instead. Sure, there is tourism in my city as well as many trade fairs, but there are also many hotels that usually cover this need. So who needs people to take rental apartments off the market to rent them out at high prices?
Mixed bag on this. But look at it from a zoning perspective. Short term rental property is a motel which is commercial for most states. I assume that this is the same for Canada. Local zoning boards are empowered to look at the mix of properties such that they follow community master plans otherwise they have to grant variances. What the board can grant, they can withhold.
$5 says this dude doesn’t own a home himself 😂
@@frederickmooney2581 🤣 Where do I collect my $5?!
AND?
This government has actually been bad news for renters, as landlords are exiting and the law of supply and demand says the next rental will be harder to find and much much much more expensive. My properties get a reno and sky high rent increase - if I keep it - when a tenant rotates out after years of locked down rent increases.
* With increasing property taxes and administration costs from Govt overreach - then eventually just like any business, this gets passed along to the consumer. If the risk of fully locked down rent increases then I will accelerate diversification out of the fixed-assets of over-controlled BC rental property.
* For my part, there are four of my assets which have transitioned by sale from rental stock into private home-ownership and a few more will go the same way as I distill down my fixed investments in BC and move to more business friendly avenues.
Great work Woke virtue-signalling beaurocrats - watch it burn.