Skip to content

Short-term rentals on the rise in Squamish, according to District data

District needs 'robust public engagement,' says mayor
pix
People coming to Squamish and staying in vacation rentals is hurting our long-term rental stock, some say.

Over 100 new short-term rentals were listed online between August 2018 and August 2017, according to new data from the District.

“Our local situation is quite critical at the moment,” said District planner Aja Philp, updating council at a Sept. 18  committee of the whole. “More than a third of all renter households in Squamish are spending more than 30 per cent of their before-tax income on housing. Our vacancy rate is still one per cent.”

“Given the strong financial incentives of short-term rentals, it’s unlikely that we’ll see these short-term rentals stop growing. Within the current market context, we need regulatory and enforcement action,” she said.

The District has been monitoring short-term rentals, most on AirBnb, since May 2016.

In August 2018, the District recorded 460 units listed, an increase of over 100 units in the span of a year. Around 75 per cent were entire home rentals, and 25 per cent were partial home rentals.

Analysis by the District found that almost all listings are for seven nights or less.

The concern is that these properties are being used as holiday rentals, reducing the amount of long-term rental properties available to residents.

While many homeowners use short-term rentals as a way to offset expensive mortgages, most are not registered and do not pay tax on the service. Only eight rentals are licensed as bed and breakfasts in Squamish.

The provincial government recently established an agreement with Airbnb to collect taxes on short-term rentals. The agreement stipulates eight per cent provincial sales tax, and in Squamish, a municipal and regional district tax of two per cent.

The two per cent tax would go toward tourism marketing programs.

For the District, the next step is a “community consultation” to collect research and feedback on the short-term rental situation. Activities will include a survey, focus groups, open house, and council workshops.

District staff said based on current timelines, a preliminary strategy could come before council in the new year. Final approvals and enforcement could begin in May 2019.

“We recognize and have been watching in other communities how the short-term rental debate can be very polarizing in communities that are grappling with housing issues. In the worst case it’s pitting neighbours against neighbours,” said District planner Sarah McJannet during the meeting.

“With this in mind, when we’re approaching this consultation, we want to provide space for honest and respectful conversations,” she said.

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks