1822 replies to this topic

[Victoria Watcher]

It's possible, but it's hard to think that most or even many high-spending tourists avoid lower-cost areas, just because.

Edited by Victoria Watcher, 04 August 2024 - 10:23 AM.

[lanforod]

That’s very elitist thinking too. Anti family, and only want the rich tourists?
Banning STRs outright is a bad solution. Knee jerk without the intended consequences.

[Victoria Watcher]

Janion and Pearl would likely never have been built if they did not (at that time) allow for STR.

[LJ]

How do we know fewer tourists are coming?

The "experts" told us.

[dasmo]

That’s very elitist thinking too. Anti family, and only want the rich tourists?
Banning STRs outright is a bad solution. Knee jerk without the intended consequences.

How you know what the intent was? If it’s what was stated they are absolute idiots. Liars makes more sense.

[MarkoJ]

Janion and Pearl would likely never have been built if they did not (at that time) allow for STR.

 

The Pearl never had STR zoning and I can tell you the people that lined up to buy at the Janion didn't even know what Airnb was at the time of purchase. There was also no such marketing by the developer promoting such either. 

[dasmo]

I think they knew. The developer didn’t. I remember shortly after completion there was already a concierge service being advertised. It is as actually a great thing for everyone involved. It’s a crowd sourced hotel. Would be a good concept in general instead of time shares.

[dasmo]

At list price they were money makers for people even with borrowed money. This is why there was an huge line to buy them. Even zoned for it. One would think it was a safe bet.

[Victoria Watcher]

The Pearl never had STR zoning 

 

 

 

 

Oh, OK.

 

It has STR in it though:

 

https://www.airbnb.c...3mPfA0VyV5kic6z

[Victoria Watcher]

[Victoria Watcher]

people that lined up to buy at the Janion didn't even know what Airnb was at the time of purchase. 

 

Some estimate up to 80% of Janion and Union were STR, 20% of Corazon.

 

https://www.reddit.c..._35_short_term/

[Victoria Watcher]

Residents of a “ghost hotel” off Yates Street want to see how they can help the City of Victoria crack down on illegal short-term rentals — and are planning for the condo to levy its own fines against short-term rental operators who don’t follow the rules in their building.

Marv Gandall, council strata secretary of the Era on Yates building at 728 Yates St., said members of the council are meeting with the city’s short-term rental bylaw enforcer to see how they can coordinate efforts to ensure that no illegal short-term rentals can operate in their building.

As of April 29, only 30 of the 157 units in the Era were lived in by its owners, Gandall said.

“We knew the imbalance was acute but were shocked by its extent.”

Incomplete records provided by the building’s property manager to the building’s council strata seen by the Times Colonist shows another 62 units in the building had long-term tenants.

Of the other units, 38 were licensed for short-term rentals and the status of the remaining investor-owned units was unknown or had incomplete information.

The strata council believes many of those investor-owned units were operating as unlicensed short-term rentals, Gandall said.

 

https://www.timescol...uilding-9313480

[Victoria Watcher]

The folly of blanket Airbnb crackdowns in Canada

 

 

 

https://www.theglobe...owns-in-canada/

 

 

New York instituted a de facto ban last year on short-term rentals listed on platforms such as Airbnb and Vrbo, and Barcelona has plans to do the same. In Paris, London, Toronto, Montreal and Vancouver, those rentals are limited to primary residences.

 

Meanwhile, in May, British Columbia introduced a province-wide measure to limit short-term rentals to principal residences plus one accessory dwelling, for example, a basement suite or laneway house.

 

The key to regulating short-term rentals effectively is balancing the competing interests of investors, tourists, and, most importantly, permanent residents. But the blanket restrictions emerging across the country get this delicate balance wrong. They do too little to bring housing costs down for renters and too much to handicap real estate investment and tourism.

 

This is largely because, for all the fuss over short-term rentals, they only account for a tiny portion of the country’s housing stock.

 

According to Statistics Canada, less than 1 per cent of homes in this country are short-term rentals that could be converted into permanent housing. Hence, housing prices have not generally fallen in cities like New York or Toronto, which have restrictions in place.

In a study of New York’s housing market, Sophie Calder-Wang, at the Wharton School of Business, found that Airbnb Inc. contributed to just 1 per cent of aggregate rent growth over the past decade. A similar study on the Canadian housing market, in collaboration with Airbnb, found that “Airbnb activity at the current levels has not generated an economically meaningful increase in rents across Canada’s major cities.”

 

Even still, policy makers in cities facing housing affordability crises might be willing to clamp down on short-term rentals if it gives rise to even small reductions in rents. Doing so might also benefit tenants who find themselves sharing a wall with noisy Airbnb guests.

But policy makers ought to consider whether the juice – a potentially tiny reduction in average rent – is worth the squeeze. Because, to date, the way many municipalities have crafted these restrictions has unnecessarily handicapped property owners as well as the country’s tourism industry.

 

The problem with this type of bylaw is that it treats every short-term rental as a home that could otherwise be rented long-term. Yet, plenty of those rentals offer luxury stays at premium price points – imagine, for example, a home in one of Toronto’s many upscale suburbs. These homes can be difficult to rent long-term. And, of course, these aren’t the kinds of properties that have much bearing on Toronto’s affordable housing crisis.

 

As well, families that own cottages as second properties – say, in Squamish, B.C., or Whistler, B.C., where the primary residence rule is in place – might never consider renting these properties long-term. But, by listing their cottages on a platform like Airbnb, they provide a valuable service to tourists, who, especially if they’re travelling with children, might not be able to afford multiple hotel rooms in the B.C. countryside.

 

To expose a luxury cabin in Squamish to the same short-term rental restrictions as a condo unit in downtown Vancouver, therefore, makes little sense. And the ramifications for investors – even mom-and-pop shops that might own one or two rental properties – are significant. Imagine remortgaging your home to finance a rental property only to learn that you can no longer legally list the unit on Airbnb, where your rental income might be three to four times higher than a traditional lease.

Edited by Victoria Watcher, 29 August 2024 - 12:57 PM.

[Mike K.]

Manky, aged motels and hotels that were top-notch in 1975 now define the lodging industry on much of the Island.

Tourism VI says leisure visitor numbers were 8-10% below 2023 figures for June and July. The business travel market has fallen off a cliff.

[Matt R.]

My buddy in the Oceanside area says things are pretty grim this summer. Bad weather plus Airbnb ban means more day trippers, fewer overnights. Bad for business.

[Ismo07]

My buddy in the Oceanside area says things are pretty grim this summer. Bad weather plus Airbnb ban means more day trippers, fewer overnights. Bad for business.

 

Yes the short-term ramifications are being felt..  Are hotels busier?  Not sure, maybe hear about that later down the road.  Are there more residents downtown due to this?  Minimal increase it seems.  Developments have slowed with respect to condos now.

[Matt R.]

He says families are choosing day trips, hotels are $$$.  In my own life, more recently we found AirBnb to generally be comparable to a mid range hotel stay, especially one that includes breakfast for two and I would only choose Airbnb if there were no other options or it was an exceptional property;  Travelling with kids, however, can be an entirely different story.

[mbjj]

When our daughter was a kid we took her to Europe four times, never stayed in a hotel except for maybe the first and last nights. It was so enjoyable to have separate bedrooms, kitchens for goodies and reasonably-priced dinners, being able to pack picnic lunches, etc.  We could sit on the balcony in Switzerland and overlook the Eiger, or outside in the middle of a French vineyards, a cottage in the Cotswolds and one near the village where my grandfather was born in England. It was great. I wouldn't ever stay in hotels with a child, or even if it was just my husband and I. It's rather nice to have one's own pool in Provence. Food allergies also make a kitchen a necessity, plus it's fun to wander outdoor markets and grocery stores and try different things. 

Edited by mbjj, 30 August 2024 - 01:53 PM.

[Mike K.]

I have a trip coming up. Zero AirBnBs have been booked for our stays. We decided having hotels was a safer bet to make sure we didn’t have check in hiccups and could leave our luggage after check-out for a few hours before heading off to another place.

[lanforod]

It’s really ideal for families. Couples, no.