Was there tourism in Victoria and what happened to it after the ban? I’m not clever enough to predict what exactly the consequences might be, but I was always interested in what could happen from banning all short-term rental (although maybe that’s not the case?)
Okay, but who. I want the name of a specific person or organisation and a link to where they said that. Because it’s such a stupid statement that I’m not going to just take someone’s word that someone was dumb enough to say it or thought people would be dumb enough to believe it.
You can also buy one of these tiny former airbnb studio condos for like 20k cad down if you are desperate. Good way to enter the market if that’s all you can come up with. They are all sitting on the market and you can lowball.
In Seattle we call these studio apartments, I learned reading this thread that it’s not a normal thing. My friends that live in one can’t cook without their bed absorbing the smell.
What happened is the province made short-term rentals only legal for primary residences and secondary suites.
That sure helped some, but you can still find airbnb/vrbo listings in Victoria.
I live in a small CA mountain town that was “the only town open” during COVID, and as such, Airbnb went apeshit. Well the market got oversaturated and now with people trying to offload these properties or rent them out to long term residents , and shocker, rents are coming down (along with home prices). We still have yoyos trying to get $4k/mo for a 2/1 piece of shit because I’m guessing they’re upside down on their mortgage, but those properties have been sitting on the market for at least 6mos. I have zero empathy for the people that bought high and losing their asses because they wanted to make it rich at the expense of our local population.
I live in Florida and we had an influx of people. Mainly due to Florida not shutting down during Covid. I traveled to Puerto Rico during that time and they were shut down. Most of the Bahamas Islands were shutdown as well.
They banned airbnb in victoria bc last year and rent here has actually went down. From this one single change.
Was there tourism in Victoria and what happened to it after the ban? I’m not clever enough to predict what exactly the consequences might be, but I was always interested in what could happen from banning all short-term rental (although maybe that’s not the case?)
It’s our biggest tourism season in history this summer but that’s thanks to Trump haha
Don’t think it’s had much effect because we’ve always had hotel capacity for the demand
But the land lords told us Airbnb doesn’t effect rental prices and actually let’s people afford homes!
lol who said this
The people letting AirBNBs!
Okay, but who. I want the name of a specific person or organisation and a link to where they said that. Because it’s such a stupid statement that I’m not going to just take someone’s word that someone was dumb enough to say it or thought people would be dumb enough to believe it.
oh boy, do I have some bad news for you about the stupid shit people believe
It was all over the BC online forums when the province banned short term rentals outside primary residence.
There were op eds, bad studies, lying companies etc. Here a few from quick internet search
A crappy study trying to gaslight people. This was all over. https://www.biv.com/news/real-estate/airbnbs-dont-cause-residential-rent-increases-conference-board-8273746
Air bnb makes the argument they aren’t responsible https://www.airbnb.ca/e/closerlook
Arguing it lowers costs https://news.ncsu.edu/2024/10/airbnb-and-housing-costs/
Thanks
Sorry, I thought you were joking and was playing along!
Reducing rent prices was the plan and to be honest, the obvious outcome when demand goes down.
You can also buy one of these tiny former airbnb studio condos for like 20k cad down if you are desperate. Good way to enter the market if that’s all you can come up with. They are all sitting on the market and you can lowball.
Link to condo purchase place?
Just go on realtor.ca and look for 0 bedroom 1 bath units
20k down will get you into a <400k condo that will be like 2/3 the cost of what rent would be
However I would be concerned it’s a hard sell in 5 years when you want to upgrade. I know a lady who lives happily in 400sqft but I couldn’t.
>0 bedroom 1 bath
the fuck
In Seattle we call these studio apartments, I learned reading this thread that it’s not a normal thing. My friends that live in one can’t cook without their bed absorbing the smell.
What happened is the province made short-term rentals only legal for primary residences and secondary suites.
That sure helped some, but you can still find airbnb/vrbo listings in Victoria.
Yeah it freed up entire apartments is what helped. I was able to BUY my own condo due to a slight correction in prices partly thanks to this policy
I bet someone would have outbid me and made it into an airbnb if not for this policy
I live in a small CA mountain town that was “the only town open” during COVID, and as such, Airbnb went apeshit. Well the market got oversaturated and now with people trying to offload these properties or rent them out to long term residents , and shocker, rents are coming down (along with home prices). We still have yoyos trying to get $4k/mo for a 2/1 piece of shit because I’m guessing they’re upside down on their mortgage, but those properties have been sitting on the market for at least 6mos. I have zero empathy for the people that bought high and losing their asses because they wanted to make it rich at the expense of our local population.
I live in Florida and we had an influx of people. Mainly due to Florida not shutting down during Covid. I traveled to Puerto Rico during that time and they were shut down. Most of the Bahamas Islands were shutdown as well.
My wife and went on our honeymoon in 2022 to Puerto Rico, and it was honestly pretty lax. We were on the west side in and around Rincon.
Canmore?
Hahaha fuck I miss old Canmore
Probably should’ve specified California lol
Throwing darts over here, Pinecrest?
Much further south, I ain’t Uncle Rico