How to rent out your unit on Airbnb in Vancouver BC

Here at Noble Homes, we understand that not everyone is going to need a property management services, especially if you live in your home most of the year.

 

It's also no surprise with the convenience of today's apps that a popular option is listing a property on Airbnb.  After all, if you own property and plan on being away for a few weeks, why not make a few extra bucks?

Luckily for the people who live in the City of Vancouver, this is now a viable option for additional cashflow and we'll show you how below.

Who is eligible for short term rental?

At the time of this writing, in order to be eligible, the rental unit needs to be your principal residence.  If you are renting, then you will need permission from the landlord and to clear this option with strata first.  Strata councils have their own rules so even if your past strata allowed short term renting, it doesn't mean the current one will as well.

Once you get permission, you'll need to apply for a short term rental license from the City of Vancouver itself.  The current cost is $56 initially and $49 per year thereafter. However, before you apply you'll want to ensure you comply with the list of requirements listed here.  They include items such as

  • confirming your home is a legal dwelling unit
  • interconnected smoke alarms
  • carbon monoxide detectors, among other safety requirements

Many of these requirements are likely just quick checks if you're living in a new unit.

I'm ready how do I get started?

Once you've reviewed and completed the list, head over to the application page and fill it out in full.  The application fee is non refundable and the license will expire at the end of the calendar year.  If you apply in the middle of the year, it will be prorated.

Additional Tips

Once you receive your short term rental business license, you'll want to start posting on the Airbnb platform.  In order to comply with the rules, you need to list your new business number on each posting or ad that you run.  Failing to do so could result in additional fines. 

If you're still not sure if you are eligible, the City of Vancouver has created a quick quiz to walk you through the process.

What if I don't live in Vancouver

Each city will have their own laws related to short term rentals.  Be sure to visit the city specific websites to understand the latest policies.