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AirBnB, VRBO, vacation and executive rental news and issues in Victoria


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#41 dasmo

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Posted 08 June 2016 - 12:15 PM

It's simply having too big of a negative affect on the rental market IMO. It's bad enough most can't buy a house but now renting one is a nightmare too. Air BnB is fine but like everything, in moderation. It's proliferation is adversely affecting the livability of Victoria. BnBs are a legal home occupation but you need to live there....A lot of Air BnB rentals are not legal since they are renting full houses or condos. Simply taxing them is gracious.

#42 thundergun

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Posted 08 June 2016 - 03:26 PM

Why can't we start with taxing them properly and see what happens? I don't see the need to push for intensive regulation .

 

Doesn't/won't airbnb provide CRA with a report on revenues by owner/address for which CRA can run past income tax records?



#43 rjag

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Posted 08 June 2016 - 04:19 PM

So is one night the issue? how about weekly rentals? Its not just airbnb but vrbo, tripadvisor and about 40 other sites. I dont think our rental issues are based on airbnb, but we'll wait for the study.

Theres simply not enough legal rental stock out there and its partly due to authorities turning a blind eye to the thousands of illegal suites all over the city. I bet if anything airbnb is reducing the illegal suite stock....If this is the case then how can there be a reduction in rental units if they didnt exist legally?

I dont have a suite but if I did I would want to maximise the return on it and if I could get 10-15 nights a month at $200 a night i.e. $2000-$3000 as opposed to $1250/month..... I have no obligation to provide housing.

Flamesuit on....

Edited by rjag, 08 June 2016 - 04:44 PM.

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#44 JanionGuy

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Posted 08 June 2016 - 04:50 PM

airbnb has been taking the media hit, but VRBO has been around for alot more years (along with others).  Personally, if the property has appropriate zoning, i believe it's a good thing.  I've been involved with airbnb on both sides of transactions and i have to say, i think it's a good thing on many levels. Alot of "hosts" are actually involved and engaging people offering an experience you won't get in cheap hotel.



#45 Coreyburger

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Posted 08 June 2016 - 05:04 PM

I have no obligation to provide housing.
 

And the city has no obligation to let you do that. City controls zoning, zoning controls what you can do.


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#46 rjag

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Posted 08 June 2016 - 06:08 PM

And the city has no obligation to let you do that. City controls zoning, zoning controls what you can do.


The city has been doing a pi$$ poor job of enforcement of much anything these days. I'm not sure folks even care

#47 rjag

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Posted 08 June 2016 - 06:08 PM

And the city has no obligation to let you do that. City controls zoning, zoning controls what you can do.


The city has been doing a pi$$ poor job of enforcement of much anything these days. I'm not sure folks even care

#48 AllseeingEye

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Posted 08 June 2016 - 06:45 PM

Major story on ABnB on Global Vancouver tonight and not in a good way; based on the details - a researcher from UBC has come up with an analytical tool examining the impact of ABnB on Vancouver specifically which showed some pretty alarming information - I would say something stinks here from the head of the fish on down. Apparently the City of YVR is now actively using this tool to more closely examine the situation in the lower mainland which as everyone knows is a hot mess from a rental/renter perspective. 


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#49 Coreyburger

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Posted 08 June 2016 - 07:07 PM

I really don't have a problem with the occasional person renting out their house. I have a problem with people pulling rental units off the .market and becoming full time AirBnBers (or VRBOers, etc.). Not only are those people not paying into the tourism marketing that is part of what makes people come here (via the hotel tax), they are pulling units out of a very tight rental market. If we had 5% vacancy, it might be different. But we don't, so our policies & actions need to reflect that.


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#50 dasmo

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Posted 08 June 2016 - 07:20 PM

Yep, this is why we have laws, so we don't have to live in a dog eat dog world. Personally I think it's progressive to change the law and allow it. (Not that there is any hope of shutting it down). It would be a non issue if it wasn't causing condos to be sold as businesses for 100k over ask and dwindling rental stock for residents to nothing. People need to be able to live here for it to remain vibrant and the explosion of this industry is affecting that in a negative way for the many. Let's call it what it is....a hotel on the black market not a shared home in the new economy....

#51 JanionGuy

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Posted 08 June 2016 - 07:34 PM

The "tight" rental market can not be all blamed on Airbnb, Vrbo, etc.  Take a look at the market.  For some reason, Vancouver media (which has obviously now spilled into victoria) has chosen VRBO and airbnb as the culprit for lack of rental space. 

 

Lots of folks coming into the "buy" market simply can't buy.  Then they go look to rent.  Guess what?  No rentals.  Hey, let's go blame Airbnb.


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#52 JanionGuy

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Posted 08 June 2016 - 07:35 PM

Major story on ABnB on Global Vancouver tonight and not in a good way; based on the details - a researcher from UBC has come up with an analytical tool examining the impact of ABnB on Vancouver specifically which showed some pretty alarming information - I would say something stinks here from the head of the fish on down. Apparently the City of YVR is now actively using this tool to more closely examine the situation in the lower mainland which as everyone knows is a hot mess from a rental/renter perspective. 

 

 

stinky fish, don't eat the fish



#53 Mike K.

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Posted 08 June 2016 - 07:39 PM

Meanwhile, the City of Victoria has just blessed a food truck operating for $100/day on Douglas at Yates, arguably the busiest intersection in the CRD, a move that impacts brick and mortar businesses paying huge municipal taxes.

By doing this the City has set itself up for a legal challenge by Airbnb operators should the City start meddling with that industry.

Food trucks are an AirBnB and Uber of the restaurant business. Anyone who doesn't see them as such has their blinders on.


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#54 VicHockeyFan

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Posted 08 June 2016 - 07:50 PM

So is one night the issue? how about weekly rentals? Its not just airbnb but vrbo, tripadvisor and about 40 other sites. I dont think our rental issues are based on airbnb, but we'll wait for the study.

Theres simply not enough legal rental stock out there and its partly due to authorities turning a blind eye to the thousands of illegal suites all over the city. I bet if anything airbnb is reducing the illegal suite stock....If this is the case then how can there be a reduction in rental units if they didnt exist legally?

I dont have a suite but if I did I would want to maximise the return on it and if I could get 10-15 nights a month at $200 a night i.e. $2000-$3000 as opposed to $1250/month..... I have no obligation to provide housing.

Flamesuit on....

 

Right, and it's just as easy to argue that many units would never have been built if the new owner did not know he could rent on Air BnB.  If he could only do a  long-term rental, he might not have bought.  And the condo never built.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#55 VicHockeyFan

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Posted 08 June 2016 - 07:52 PM

Major story on ABnB on Global Vancouver tonight and not in a good way; based on the details - a researcher from UBC has come up with an analytical tool examining the impact of ABnB on Vancouver specifically which showed some pretty alarming information - I would say something stinks here from the head of the fish on down. Apparently the City of YVR is now actively using this tool to more closely examine the situation in the lower mainland which as everyone knows is a hot mess from a rental/renter perspective. 

 

But you know how's not complaining?  The consumers using the service.  They love it.  No issues.


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<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#56 rjag

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Posted 08 June 2016 - 08:46 PM

Right, and it's just as easy to argue that many units would never have been built if the new owner did not know he could rent on Air BnB.  If he could only do a  long-term rental, he might not have bought.  And the condo never built.

 

Someone's buying them. But there should be no obligation on any entities part that it can only be rented out for certain periods i.e. long term. I know of one where the owner comes to Victoria 1-2 weeks a month and rents it out the other times. Should that be illegal? Why?

 

Hotels are not suffering, they are having record years, occupancy is high and they are working on all cylinders.

 

I agree that its hell on earth for renters, both my adult children would love to move and rent their own place but its simply not feasible. A lot of the issue is the lack of rental stock and the 30 odd years where developers were discouraged from adding to the inventory. But there is no single reason that can be blamed for the situation



#57 JanionGuy

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Posted 08 June 2016 - 08:51 PM

There are a TON of units in our building that sit vacant, but for 4 or perhaps 6 or 8 weeks a year.  Isn't that the prerogative of an owner or taxpayer?  Vancouver is going after vacant ownership. Is this a good thing?  



#58 dasmo

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Posted 08 June 2016 - 09:32 PM

Hyper inflation in the housing market and the rental market is not healthy. Vancouver is totally insane and that is now spread to here. AirBnB has ballooned the industry. It's been around for a long time but not at the scale that AirBnB has fueled. 

listing-growth.jpg



#59 Mike K.

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Posted 08 June 2016 - 09:38 PM

OK, you really need to provide source links to quantify what it is we're looking at. That graph is meaningless.

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#60 dasmo

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Posted 08 June 2016 - 10:00 PM

OK, you really need to provide source links to quantify what it is we're looking at. That graph is meaningless.

"Exactly how fast is Airbnb growing? The public has depended on Airbnb to release some high level numbers about the total number of units on site. These published Airbnb number have gone from 1.5 million to 2.5 million in the past year. But, what exactly does this number represent? The total number of listing ever created? The total rentals that actually hosted a traveler in last year? It is unclear what the figures released from Airbnb actually represent.

To get a clearer picture of growth rate of Airbnb we looked at the number of new Airbnb listings that have been created since 2008 that were live on the site at some point in 2015"

 

http://blog.airdna.c...ta-for-the-usa/



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