Starting this Thursday, Vancouver residents will be allowed to list their principal residence on Airbnb as long as the stay is for less than 30 days and they have a business licence.
The deal between the city and the home-sharing website is a first of its kind in Canada and was announced last week.
The new bylaw forbids non-principal residences to be listed on Airbnb. Residents will also face a $1,000 daily fine if they fail to display their business licence.
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When first announcing the deal, Mayor Gregor Robertson said the new bylaw would help get about 1,000 units back into the long-term rental market.
WATCH: Vancouver’s new Airbnb bylaws take effect April 19
Meanwhile, SFU housing expert Gordon Price is applauding the move.
“This at least gives clarity not only to Airbnb, there are rules and you have to play by them, but I think more importantly to those who are renting out their places now, they too know what the rules are,” Price said.
He said as long as the city follows through with the rules, then the bylaw will be truly effective.
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