It’s a tough job to bust AirBnB listings in Vancouver

Short term AirBnB style property rentals are not permitted in Vancouver and the city can levy fines up to $10,000, but apparently there are still some of these short term rentals available.

“The difficult and complex thing comes when we move forward with prosecution,” Toma said, explaining that the city needs to connect the property owner to an online short-term rental listing without the help of a specific address.

Toma said a few cases against short-term renters are pending. Fines in those and other cases are up to the prosecutor, but staff recommend they recoup investigation expenses at minimum.

City staff are contemplating new tools to deal with the nuisance aspect of short-term rentals at the same time as assessing the industry’s impact, Toma said.

“We do have such a tight rental market,” Toma said, adding that she hoped staff could craft a smart and enforceable regulation that would also “find that sort of a sweet spot” for those sharing their home to meet their mortgage payments.

Of course there is one kind of short term rental that is currently allowed in Vancouver, but it comes with a few catches:

Bed and breakfasts are allowed in Vancouver, but under certain conditions. Homeowners need to live in the residence and they can host a maximum of four guests in two bedrooms, among other regulations. They also have to pay a one-time development and building permit fee, get a business licence and pass a safety inspection.

Read the full article over at the province.

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bullwhip29
Guest
bullwhip29

i think when all is said and done the city backs off entirely as homeowners cry foul. perhaps new licencing fees will be introduced but i find it hard to believe that such a lucrative money making (mortgage paying) opportunity would be nixed for the 1000’s of overleveraged homeowners out there who rely on such income from this and various other schemes to keep their own personal houses of cards from toppling over (and so on and so on…)

elvince
Guest
elvince
It’s ridiculous. Any government body who would want to end AirBnB could in a matter of days. KInvestigation takes 5 minutes: you just rent the place, and the moment you get there, you write a 2000$ fine, send it to the owner (don’t even bother fining renters or sub-renters), and move on to the next listing. Cops have been doing sting operations against drug dealers and prostitue since before the constitution, the only difference is that doing one on AirBnB is much easier and less dangerous. The same thing could be done with Uber or any other of these “sharing economy” companies. The only reason these companies can strive is that govts let them. Let’s not kid ourselves, these elected officials are either complicit or just too stupid to understand their own position. My vote usually that 99% of politicians… Read more »
space889
Member
space889

I don’t get why “the city needs to connect the property owner to an online short-term rental listing without the help of a specific address.”??? Isn’t owner responsible for how his/her property is used? Unless maybe it is rented out to a renter with a rental agreement?

Best place on meth
Member
Best place on meth

Let’s see here, an actual hotel has to be licensed, pay annual fees, pass inspections, collect a lodging tax on behalf of the city, and pay income taxes on profits.

A private homeowner behaving like a hotel doesn’t have to do any of these things because…..they’re special?

bullwhip29
Guest
bullwhip29

in some people’s eyes they are special. obviously the powers that be will stand in the way of anything that could potentially knock a leg of the chair out from under this house of cards housing mkt. that said, there are likely far more homeowners renting out illegal bsmt suites (on monthly or yearly basis) and rooms to home stay students for cash under the table and all that is deemed to be perfectly fine.

space889
Member
space889

Hmmm…this sounds a lot like another big company that Vancourites has been clamouring for…starting with U something….

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29
Best place on meth
Member
Best place on meth

Carolyn Rogers was on CBC radio this afternoon discussing the unethical behaviour going on, from the sounds of it the final review will probably recommend a ban on double-ending.

Also, she seemed extremely uncomfortable with the term double-ending.

Yunak
Member
Yunak

While the house of cards still stands perhaps an initiative to erect a huge monument to the “Vancouver Property Owner” would be a good idea? Something of size likes Mao’s statues in China or Eiffel’s Tower in Paris that would symbolize Vancouver and glorify fundament of the overall progress and prosperity. Location of the monument and accompanying park could be a problem due to zoning and densification but I am sure the city and province will solve that.

Runawayscreaming
Guest
Runawayscreaming

I believe a 1000 foot tall solid gold statue of a smiling Vancouver homeowner wearing a sparkling tiara encrusted with ten billion dollars worth of diamonds, erected on the lawn of Vancouver City Hall, would represent everything that is Vancouver.

Bestplaceonearth
Guest
Bestplaceonearth

Sourgrape… Free housing in the West side for all!

Combat roach
Guest
Combat roach

Here comes again China philosopher to enlighten, motherfucker in mission…

bestplaceonearth
Guest
bestplaceonearth

and here comes the “what he said”… how could you do this to yourself?

Yunak
Member
Yunak

Perhaps this could be a future development of some of Vancouver’s lots and spaces that would inevitably give the world-class flavor to the city as well as attract more foreign buyers of certain background chasing glamour of the west but in tacky and lame fashion.

http://abcnews.go.com/International/chinas-fake-cities-eerie-replicas-paris-london-jackson/story?id=36525453

Best place on meth
Member
Best place on meth

They should be encouraged to continue copying world cities and even commended for it.

If they could just replicate every single tourist destination from the entire world, there will no longer be any need for them to leave the country.

Winner: the human race.

paulb
Member

New
326
Sold
253

TI:8491

http://www.paulboenisch.com

bullwhip29
Guest
bullwhip29

Reports from independent group looking into shadow flipping tell differing stories
http://globalnews.ca/news/2634976/reports-from-independent-group-looking-into-shadow-flipping-tell-differing-stories/

bullwhip29
Guest
bullwhip29
Combat roach
Guest
Combat roach

Richie Baker
If you want to know why there is such a huge gap between the rich and poor in Vancouver (middle class are considered poor here) then look no further than this article. We need to make this part of the world less friendly and force them to hide their money elsewhere.

Shut It Down Already
Guest
Shut It Down Already

ZeroHedge is almost as much of a toilet as this place. At least they have a better track record when it comes to predictions, though.

wwwww
Guest
wwwww

They are just quoting a New York Times article, which is a lot like a New Yorker article that came out about a month ago, which was a lot like what people on this blog have been talking about for years.

Saul
Guest
Saul

You could be right. Aren’t public toilets your favorite places?

Shut It Down Already
Guest
Shut It Down Already

wwwww, I was referring to the comments section obviously.

wwwww
Guest
wwwww

Obviously.

wwwww
Guest
wwwww

Quantum materials research chair leaves UBC after less than a year

“The international transition has been significantly harder than my family anticipated, and we are looking forward to returning to our home community and culture,”

http://www.theglobeandmail.com/technology/science/quantum-materials-research-chair-leaves-ubc-after-less-than-a-year/article29600035/

MLS watch
Guest
MLS watch

I met her in the condo where she lives. Faculty housing = small apt, on a busy street. No hope to buy anything. Surrounded by luxury condos catered to the rich Chinese driving RR and Lamborginis. I guess not the community and culture she is used to, considering her stature. On campus, faculty now look like poor losers.

Best place on meth
Member
Best place on meth

Translation: “I did not realize when I took the position at UBC that I would be moving to China. What the hell happened to this place?”

Combat roach
Guest
Combat roach

Those arrogant fucks are extremely aggressive with no shame whatsoever. Eventually people will realize and it won’t be pretty. Kinda will be clashing, tensions are rising…

http://www.theprovince.com/touch/story.html?id=11847877

bullwhip29
Guest
bullwhip29

everyone place your bets on who is running this site behind the scenes…

>>>my money is on julia lau

space889
Member
space889

Well, you know, it’s an arrogant fuck to really know one.

bullwhip29
Guest
bullwhip29
space889
Member
space889

Yeap, can’t wait until all the racists losers on this blog got flush out and we can get some actual intelligent people and useful conversation back.

Best place on meth
Member
Best place on meth

Says the lowlife who defends mob beatings of muslim children.

space889
Member
space889

Well, after you’ve been stolen from daily for a few years by these muslim children, and have your daughters molested in public pools and police refuses to do anything about it, and you still feel they should be treated with kitty gloves, then you can call me lowlife. But knowing you, I have a feeling these muslim chidrens would be dead within 3 months.

Nom Nom Nom
Guest
Nom Nom Nom

Funny… You seam to be able to justify violence against other human beings when you perceive that you have been wronged… Good, I will remember that.

patriotz
Member

Two-thirds of millennials expect to afford a Toronto-area home, study suggests

Nearly half of Toronto first-timers anticipate making a withdrawal of about 12 per cent of the total price for a down payment, from the bank of mom and dad. That means their own contribution would be about 4 per cent or about $18,000…

No doubt the number are higher in metro Vancouver.

Half of Canadian millennials already own a home and 76 per cent of those who rent, expect to buy within five years

bullwhip29
Guest
bullwhip29
southseacompany
Member
southseacompany

“Bank of Canada keeps benchmark interest rate at 0.5%” CBC News

http://www.cbc.ca/news/business/bank-of-canada-1.3533385

bullwhip29
Guest
bullwhip29

poloz is stuck in a corner now. out of moves. cdn economy will now hit a dead patch as loonie rallies (in the short term) along with oil prices, the US continues to tank their own currency (sending real estate speculators, tourists and business south of the border) and the ongoing body count from the oil patch and manufacturing sectors continues to add up due to systemic changes in the industry.

southseacompany
Member
southseacompany

“IMF warns of fresh financial crisis”, The Guardian

http://www.theguardian.com/business/2016/apr/13/imf-warns-fresh-financial-crisis-global-stability-report-eurozone-banks

“The International Monetary Fund has highlighted risks of a new financial crisis, warning that global output could be cut by 4% over the next five years by a repeat of the market mayhem witnessed during the 2008-9 recession.”

MLS watch
Guest
MLS watch
patriotz
Member

Gee, don’t you think the time to do this was before the election, before someone got elected on a promise not to do anything?

franko
Member
franko

Don’t know how many politicians other than Patriotz check this forum to see how the population feels about housing and foreign ownership, but it seems to me that a petition might be a bit harder to ignore.
Why am I not surprised that he criticised similar petitions and letters to ministries on several occasions before the election.

southseacompany
Member
southseacompany
“Your parents likely made a mint off housing, but you won’t”, Globe & Mail https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=newssearch&cd=8&ved=0ahUKEwj8m4vb7YvMAhVP7mMKHTR5CQ4QqQIIMCgAMAc&url=http%3A%2F%2Fwww.theglobeandmail.com%2Fglobe-investor%2Fpersonal-finance%2Fhousehold-finances%2Ffour-thoughts-to-cool-gen-ys-lust-for-housing%2Farticle29607105%2F&usg=AFQjCNHR-k-md20OlcayXe94r3e7e2en2g&bvm=bv.119408272,d.cGc “In this recent column, I looked at one millennial couple that can afford to buy a house. Now for the young adults who want to buy, but can’t really afford it. Here are four thoughts to cool their house lust. 1.) Your house will not be an investment: There’s simply not that much more room for houses to rise in price before they become unaffordable enough to curb demand. Expect long-term price appreciation in line with the inflation rate 2.) Forget about your restaurant and bar lifestyle: The cost of owning can soak up a lot of the cash you used to socialize with friends. 3.) Forget about travel: Unless a long weekend at your in-laws’ cottage counts. 4.) Your parents have no idea: They’re… Read more »
patriotz
Member

” Your house will not be an investment”

Of course it will be an investment, it’s just not likely to be a good one. But given the financial illiteracy of the public who believe “investment” = “something I’m guaranteed to make a lot of money on”, the writer is probably using the best language in the circumstances.

elvince
Guest
elvince

An investment is something you have a legitimate expectation of making some money on. At this point, sealed Bobba Fett figurines and MtG gaming cards look more like investments than suburban housing in an inflated market.

Newcomer
Member
Newcomer

This does not hold water.
1) suggests that current prices are reasonable and will not go down
2) and 3) suggest that prices are unaffordable.
There is no reason for people to put up with 2) and 3) if 4) is true, so one of these things must be false. Common sense says it’s 1) but common sense is not a big driver recently.

southseacompany
Member
southseacompany

“Analysts downgrade growth forecasts for Canada despite stimulus: poll”, Globe & Mail

http://www.theglobeandmail.com/report-on-business/economy/analysts-downgrade-growth-forecasts-for-canada-despite-stimulus-poll/article29611391/

“But years of low borrowing costs have prompted Canadians to take on more and more debt. The household debt-to-income ratio hit a record 165.4 per cent in the fourth quarter, intensifying fears of a correction in the housing market, where much of that debt is parked.

The poll showed another 10-per-cent increase in debt levels would become a serious threat to the economy.

“Canadians maintain one of the highest household debt-to-income ratios in G7 countries, and any shocks could prove worrisome,” said Kyle Dahms, associate economist at National Bank of Canada. “Unexpected job loss or a rise in interest rates could severely hamper Canadian households.””

southseacompany
Member
southseacompany

“Real estate ‘chaos’ sends millennials scrambling before they’re priced out”, CBC News

http://www.cbc.ca/news/business/real-estate-house-prices-millennials-1.3514476

“”We feel this real urgency to get into the market now because we can’t save fast enough compared to how quickly prices are going up,” says Briganti. “It’s always at the back of my mind.””

bullwhip29
Guest
bullwhip29

yeah, but in order to get a foot in the door millennials have to clean out the savings accounts of their parents. fast forward another 20-30 yrs when their own kids are faced with the same predicament, what happens? will they be in a position to help their offspring get a leg up OR will they have to put them to work to help pay off all those insurmountable piles of debt?

patriotz
Member

What happens is that prices go down, because it’s parents helping their kids buy who’ve been keeping them up in the first place.

Shut It Down Already
Guest
Shut It Down Already

But it’s foreigners’ fault, not greedy overstretched locals! Duh!

Damifino
Guest
Damifino

Suppose a millennial manages to pull enough cash together to buy an entry condo just before “the great pricing out” occurs. Does it mean they now own an asset that can’t be resold because potential buyers (other millennials now too late to afford their way in) have dried up?

Hyper-mega-Bull
Member
Hyper-mega-Bull

people hate christy clark and the liberals, but they are unwilling to vote for the ndp.

we have the city we deserve. people were willfully blind to HAM because of some they clung to some misinterpreted political dogma, and now it may be too late.

as a result, multiculturalism, which is very good, may be damaged goods because inappropriately applied to crooks, money launders, and passport shoppers who were just looking for a place to park their cash and families that wasn’t a polluted hell hole.

Yunak
Member
Yunak

I don’t understand why is too late? As I said many times it can be solved very quickly with determined and focused leadership utilizing law , strict and in some cases draconian measures. This mess could be solved quickly, shit sent back home with scraped PR and C statuses, property confiscated and immigration revisited. However for something like that to happen it would take the right leader to show up, reorganize “the party” and got elected which might take a while here. It is always a better solution than having “people and street” to take care of it.

YLTNboomerang
Member

I dunno, I’ve always voted Conservative federally and even voted liberal last election despite my feelings toward Krusty (I support LNG) but will definitely not vote Liberal next year and probably will vote NDP and may even volunteer for whomever supports regulation for foreign ownership.

Hyper-mega-Bull
Member
Hyper-mega-Bull

a former vc.info bear moves to youtube?

southseacompany’s channel

https://www.youtube.com/channel/UCDEn1zShGIlPCdpAxtUCpDg

Many Franks
Member

Wow, after something like a decade of relentless boosterism, even Tsur Somerville is asking Somebody to do Something (neither is specified).

City losing its soul to the suburbs as residents refuse to make sacrifices

Tsur Somerville, an associate professor and director of the University of British Columbia Centre for Urban Economics and Real Estate, told the recent Vancouver Real Estate Forum that everyone wants someone else to take action on the region’s most pressing issues.

“There’s a failure of leadership,” he said. “There’s a real failure on the part of us, collectively, to buy in to making whatever level of sacrifices we have to make to really make things successful for us going forward.”

I’m not sure whether to be amused or angry about Tsur’s newfound helplessness. Probably both.

mls watch
Guest
mls watch
patriotz
Member

Meanwhile, 70 per cent felt that government should intervene in the housing market to help first-time buyers rather than protect home values,

Intervening in the housing market to help first-time buyers is in fact the most effective strategy to protect home values, which is why governments like to do it.

Seems the writers can’t figure this out, but it’s the FP after all.

elvince
Guest
elvince

Unless means making price lower somehow. Then it both helps FTB and doesn’t protect home values.

The problem is that what seems like help to FTB (lower interest rates, tax defering, outright subsidy) doesn’t help. Take away all the goodies, look at price crash, then let FTB enjoy low prices.

space889
Member
space889

Why not just do a cash grab by levying an additional 1% extra PPT per million for each amount over $1M or $1.5M? And then reduce the income tax rates on the lowest 2 income tax brackets? That would probably do a lot more for the economy and helping young people, while soaking the rich without hurting so called “incentive to work”.

Best place on meth
Member
Best place on meth

In Shanghai, nobody can buy real estate unless they’ve paid local income taxes for the previous FIVE years.

That’s the kind of policy Vancouver needs.

space889
Member
space889

Don’t confuse Hokou with ability to buy RE. Maybe you should actually post some source, especially considering that you profess to actually never read anything in Chinese.

BubbleTea
Guest
BubbleTea

Sorry to say that we are being invaded by a foreign power, not with guns and tanks but with dirty money. Our government is happy to see the invasion and will not lift a finger to do anything about it. In a few years, our major cities will mostly be occupy by foreign nationals and may vote to secede from the rest of Canada just like Singapore did with Malaysia.

“Inquiries for Canadian homes on Juwai.com, a property search engine that lists real estate around the world for Chinese buyers, jumped 134 percent in the first quarter from a year earlier, according to the Shanghai-based company.”
http://www.bloomberg.com/news/articles/2016-04-13/chinese-buyers-hungry-for-canadian-homes-with-inquiries-up-134

space889
Member
space889

I guess you would prefer guns and ammo instead?

BubbleTea
Guest
BubbleTea

I would preferred Canada to be for Canadians.

space889
Member
space889

And most of the HAM you are complaining about are Canadians…

Combat roach
Guest
Combat roach

Fake Canadians, many PRs and citizenships shoud be reviewed and questioned on authenticity and probable forgery.

space889
Member
space889

Well, take that up with the Fed Lib whose motto is a Canadian is a Canadian is a Canadian.

personally, for me, if you haven’t been in the country for like 3 out of 5 years and you haven’t paid taxes in those time and you are over 18, then you really aren’t a Canadian and candidate for losing your citizenship. But that’s too much for all you bleeding heart liberatards.

Best place on meth
Member
Best place on meth

Yes, then we can shoot the locusts.

I shoot 3, my wife shoot 3.

space889
Member
space889

Well given that we are “locusts”, unlikely you will win against the locust swarm…we are the SWARM!

Combat roach
Guest
Combat roach

That comes after all other options are exhausted. No one is really up for it but when it comes to defending homeland all options are possible, especially for those who don’t have a spear country to live or escape to.

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