‘There is a clear winner’: Airbnb rep says new BC rules will only raise hotel prices

Nathan Rotman says Airbnb can appreciate that British Columbia premier David Eby is looking for ways to fix the province’s housing market.
But as you might expect, the regional lead for Airbnb in Canada claims BC’s new short-term rental (STR) regulations, which went into effect on May 1, are missing the mark.
“We don’t think this legislation is going to have the impact that he thinks it will have on the housing market,” he told NowMedia video host in a recent interview. “What we’re seeing in places like Kelowna is that it’s hurting tourism this summer.”
While Rotman says it’s too early to do a proper data analysis of the new STR rules in BC, it’s a story the company has already seen play out elsewhere.
He says data from Vancouver, Toronto and New York City has shown consistent increases in rent prices over multiple years since STRs were regulated.
Rotman also points to a Statistics Canada report released this summer, which found that restricting STRs has a miniscule affect on the availability of long-term housing and does not help affordability.
The biggest result of restrictions against STRs, he says, is an increase in hotel prices.
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The laws and red tape are punitive.