Post by High Priestess on Jul 18, 2016 14:29:38 GMT
SEe the article:
www.news1130.com/2016/07/17/three-quarters-of-short-term-rentals-in-vancouver-are-entire-homes/
Numbers suggest that of the 5,000 units that are rented out on sites such as AirBNB in Vancouver, the vast majority, 75 per cent, are entire homes, condos or apartments.
The stats suggest the short term rental industry involves more than renting out a room in the family home.
The numbers lend credence to the theory that those homes are not being rented out long-term, and as such, their absence from the local long-term rental market contribute to the low vacancy rates.
That’s concerning for Vancouver councillor Geoff Meggs.
“Short-term rentals are removing units that could otherwise be long-term rentals. We have a vacancy rate that is under one per cent. It’s about half a per cent in some places in the city. That’s driving up rents. The hardships on tenants is really incredible.
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Completely ignored in this article is the fact, as others have mentioned, that foreign investors have bought much property in Vancouver, and are choosing to leave it empty, something which could be argued to have a larger effect upon the long term rental market than Airbnb rentals. Shall we force those who buy any property to either live in it or offer it as long term rentals?
www.news1130.com/2016/07/17/three-quarters-of-short-term-rentals-in-vancouver-are-entire-homes/
Numbers suggest that of the 5,000 units that are rented out on sites such as AirBNB in Vancouver, the vast majority, 75 per cent, are entire homes, condos or apartments.
The stats suggest the short term rental industry involves more than renting out a room in the family home.
The numbers lend credence to the theory that those homes are not being rented out long-term, and as such, their absence from the local long-term rental market contribute to the low vacancy rates.
That’s concerning for Vancouver councillor Geoff Meggs.
“Short-term rentals are removing units that could otherwise be long-term rentals. We have a vacancy rate that is under one per cent. It’s about half a per cent in some places in the city. That’s driving up rents. The hardships on tenants is really incredible.
-----------------------------------------------------------------------------------------------------------------------
Completely ignored in this article is the fact, as others have mentioned, that foreign investors have bought much property in Vancouver, and are choosing to leave it empty, something which could be argued to have a larger effect upon the long term rental market than Airbnb rentals. Shall we force those who buy any property to either live in it or offer it as long term rentals?