B.C. Premier David Eby said an announcement regarding Kelowna’s early exemption to its short-term rental legislature could be coming soon.
While in Kelowna at a press conference announcing provincial funding for four Interior B.C. manufacturing companies, the Premier praised the city’s work in reducing housing vacancy rates.
“I couldn’t let this (opportunity) pass by without thanking Kelowna for the incredible work they have done on housing. They have been a leader in the province,” Eby said.
Last December, the Canadian Mortgage and Housing Corporation (CMHC) released its annual rental market report. Amongst the figures, it was shown that Kelowna had one of the largest vacancy rates in Canada.
Eby said Kelowna’s soaring vacancy rates have allowed to province to enter into discussions on providing an exemption to the short-term rental accommodations act, which restricts short-term rentals operations to a person’s primary residence.
Wanting local businesses to capitalize on a series of summer events coming to town – including the Memorial Cup and a pair of BC Lions games – Kelowna’s council has pushed for an exemption to be granted by the spring or summer, rather than the provincial government’s timeline of November.
When questioned by reporters during the press conference, Eby said the B.C. Ministry of Housing is currently working with the City of Kelowna on the request for an early exemption.
“We recognize that (the November timeline) is not helpful for the summer tourist season, so we look forward to having more to say about this soon, but we are working closely with the city to try to find a way to provide additional tourist accommodation for the most important summer months here,” he said.
“We look forward to making an announcement soon… to be able to assist people to be able to book (accommodations).”