The City of Vancouver has announced a deal with Airbnb to regulate short-term rentals.
Rooms and properties in principal residences are still allowed to be listed, but non-principal residences will not be allowed.
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At a press conference Wednesday morning, Vancouver Mayor Gregor Robertson says council will vote on the bylaw next week.
If it is passed, the bylaw will kick in April 19.
“We have signed a memorandum of understanding with Airbnb. It’s the first agreement of its kind in Canada,” Robertson said.
Last November, council approved a $49 license fee for anyone looking to list a property on the website.
WATCH: Airbnb hosts in Vancouver will soon need a business licence to operate their short-term rental.
At that point, Robertson noted there were about 30,000 secondary suites registered across Vancouver.
“The partnership with Airbnb has been critical,” said Robertson. He said the proposed regulation will encourage some of the units to move back into long-term rentals.
This deal means Vancouverites must sign up for a business licence with the city if they are listing a primary residence or a room in their primary residences.
They must display that licence or face a $1,000 daily fine.
Robertson says the city believes that about 88 per cent of short-term rentals are through Airbnb, and following this announcement, about 1,000 units will be returned to the rental market.
— With files from Kyle Benning, CKNW