Another article that does not even attempt to A cover the possibility that many short term rentals would never become long term rentals if they were regulated out of existence, and B never gives us the full total of existing rentals compared to this relatively small number of short term rentals.
The unregulated stock of short-term rental units in Greater Victoria – such as Airbnbs – has smothered the city’s rental housing market according to local and U.S. civic advocates.
Since 2016, Inside Airbnb has tracked the number and variety of Airbnb listings throughout Greater Victoria. “The picture is very similar to many cities around the world,” said founder Murray Cox from New York. Greater Victoria has 3,156 Airbnb listings, 2,688 or 85 per cent of which are entire homes or apartments.
The listings for entire homes nearly comprise the 2,900 additional units required in the City of Victoria between 2020 and 2025 to fill growing housing demand, according to the Capital Regional District’s housing needs assessment for the City of Victoria. They also contribute to Victoria’s below-optimal rental vacancy rate of one per cent, which ideally should be three to five per cent, said Cox.
https://www.vicnews....housing-market/
3156 Air bnb rentals compared to how many rental units in Greater Victoria? 80,000?
And I know it says 85% are full houses or apartments but that includes basement or other apartments inside homes that have separate entrances and bathrooms but not always full cooking facilities. Most of the latter would never be used for long-term rentals. And many of both are not available year round as they are used by owners and family and friends part of the year.
Edited by Victoria Watcher, 29 April 2022 - 06:23 AM.