AirBNB Postings Dwindle in Vancouver

CBJ — New government regulations in Vancouver designed to cut down on the number of homes rented to tourists on the website Airbnb seems to be having the desired effects.

The city says the number of listings on Airbnb has fallen from 6,600 in April to 3,742 after the new rules came into effect on September 1.

Under the new regulations, homeowners can only offer their homes for short-term rental on the site and they must have a $49-a-year licence.

One of the fundamental aims is to get non-primary residences to the long-term rental market, which has had very low vacancy rates in recent years, leading to astoundingly high rates.