Amanda Van Der Lee sits inside one of multiple newly constructed units in downtown Kelowna, which her company owns and operates as short term rentals. ‘You can’t harm one part of society to help another,' Ms. Van Der Lee said.British Columbia’s new legislation that would ban short-term rental in secondary investment properties will cause a whole lot of pain – and without producing
“Those of you who are renting out dozens of short-term rentals to make a huge profit, while taking away homes for people, you should probably be thinking about a new profit scheme in the very near future,” said Mr. Kahlon. “We have new builds, not even built yet, and all these properties have deposits on them. So if a revenue property is eliminated, the will just leave their deposits on the table and walk away. Who wouldn’t?”
“And the definition of ‘short-term rental’ at 90 days is far, far outside of the mainstream,” he added. “Every other jurisdiction says that a short-term rental is 30 days. There will be an impact on the broader economy.”
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