The short-term rental by-law appears to be paying off, according to the City of Vancouver.
The Municipality argues in particular that 70% of short-term dwellings now have a permit to operate as required by its regulations.
The number of homes available on online platforms, such as Airbnb, Expedia, Craigslist and Kijiji, dropped from around 6,600 in April to 3742 almost six months later.
This is “a good sign,” according to Vancouver Development, Housing and Licensing Manager Kaye Krishna.
Kathryn Holm, chief inspector of municipal permits, says 2630 business licenses have been issued and municipal employees “are working hard against people who violate the regulations,” according to a press release.
Since September 1, Vancouver has been tracking offenders, who incur up to $ 1,000 in fines per day.
In addition, Airbnb has deactivated 2400 ads that violated the new rules.
Already, nearly 300 new addresses have been identified as non-compliant with the by-law.
The regulation was adopted on April 19, but officially came into effect on August 31.
Adam Fast started working for Spruce Tribune in 2017. Adam grew up in a small town in northern Ontario. He studied chemistry in college, graduated, and married his wife one month later. Adam has been a proud Torontonian for the past 10 years. He covers politics and the economy. Previously he wrote for CTV News and the Huffington Post Canada.