The head of the Together Against Poverty Society is praising the province’s new short-term rental legislation — which was passed in the legislature this week — but says it should be paired with a vacancy-control program that would immediately help with the housing crisis.Doug King, executive director of TAPS, said new restrictions on short-term rentals will potentially bring new “desperately needed” rentals into the long-term rental market.
It’s too soon to see any impact on the rental market so far, he said, noting that real estate agents and property managers will likely notice changes first. As rents continue to climb, King says vacancy controls — even on a temporary basis — would have a “huge impact” on the rental market. The province is removing a grandfathering clause in the Local Government Act that allowed short-term-rentals to continue operating under a legal non-conforming status. It’s estimated there are about 1,600 such grandfathered units in downtown Victoria alone.
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