VANCOUVER (NEWS 1130) – A move by the BC government to find a new source of revenue within the hospitality industry is being applauded by the Condominium Home Owners Association (CHOA).
The province recently announced popular short-term rental giant Airbnb will start collecting PST very soon and CHOA calls the move a good, balanced first step.
Tony Gioventu says he’s pleased it still recognizes that strata corporations have the right to have bylaws that limit or ban those types of rentals.
However, he doesn’t expect the new agreement will limit the number of postings on Airbnb.
“We do see a trend of strata corporations — new high-rise buildings, mid-rise, low-rise buildings — across the province that are looking at this seriously and saying, ‘You know what, do we really want short-term commercial use of our residential property?'”
He adds each community will be able to adopt and enforce bylaws if they want to allow short-term rentals.
The province announced it had come to an agreement with Airbnb to collect taxes, which will be put toward affordable housing measures.
Airbnb will collect 8 per cent provincial sales tax and up to 3 per cent in municipal and regional district tax for all short-term rentals it facilitates in BC. The PST rate is in line with the provincial tax rate for hotels and resorts in BC.