British Columbia's housing crisis is a cruel irony. We face a desperate shortage of long-term rentals, yet witness hotels lobbying to strangle legal short-term rentals (STRs). This hypocrisy exposes a truth B次元官网网址� for some, profit trumps people.

The recent regulations targeting legal STRs were lauded as a victory for affordability. Yet, a closer look reveals a smokescreen. Hotels, facing competition from platforms like Airbnb, lobbied heavily for these restrictions. Here's the catch: while painting themselves as champions of long-term housing, these same hotels are proposing serviced apartments B次元官网网址� essentially, short-term rentals under a different label.

Take the 129-room TownePlace Suites by Marriott, a multinational corporation building the regionB次元官网网址檚 first extended stay hotel, which hotels refer to as B次元官网网址渟erviced apartmentsB次元官网网址� to avoid the taint of B次元官网网址渁irbnbB次元官网网址�. The three-storey all-suite hotel will feature studio, one-bedroom and two-bedroom units with fully equipped kitchens. This is blatant hypocrisy. If hotels truly prioritize tourism, wouldn't they support regulations that address Victoria's documented 2,000-room hotel shortage? Instead, they advocate for policies that remove 600 legal STRs from Victoria's downtown market, further squeezing visitor options with their oligopoly.

This raises a troubling question: are these regulations truly about long-term housing, or about protecting established (often multinational) hotel chains? Consider the plight of a legal STR owner in Victoria. Their 250-square-foot unit, demonstrably not suitable for a long-term tenant, languishes on the sales market at $299K for over 60 days. Meanwhile, countless other micro-studios have not been rentable either B次元官网网址� they are not affordable to rent for many individuals at $1,900 a month and the size makes them challenging for couples to live in full time. This example highlights the reality B次元官网网址� many legal STRs wouldn't become homes or long-term rentals even if forced.

B.C. needs a nuanced solution. We can't ignore the tourism industry's needs, but sacrificing residents on the altar of hotel profits is unacceptable. Instead, let's focus on: increased development of purpose-built rentals: This directly addresses the long-term housing shortage. Regulation of REITs (Real estate investment trusts) which own 30-48% of rental housing and benefit from the fact that Canadian law exempts them from corporate taxes as long as profits are distributed to investors. When investors control housing stock the pressure to generate profit rises and landlords are incentivized to evict residents and raise rental prices.

Allow micro-condos (under 400 sq. ft.) unsuitable for long-term rentals in appropriately zoned downtown tourism areas to offer short-term rentals: They are not taking away affordable or appropriate housing. 

The current approach is a disservice to British Columbians. We deserve a housing strategy that prioritizes residents, fosters responsible tourism, and avoids falling prey to industry lobbying masquerading as public policy. Let's build a B.C. where both residents and visitors can thrive.

Debra Sheets

Victoria