Rent in B.C. communities declined after short-term vacation home rules were implemented, report finds

Apartment rents in several urban neighbourhoods in British Columbia declined noticeably after city governments in those areas prohibited people from renting out entire principal residences as short-term vacation homes, a new report has found.The rents as of October, 2023, were lower by $110 a month compared with the previous year in 52 key neighbourhoods – down to $1,821 from $1,931 – according to a statistical analysis by McGill University associate professor David Wachsmuth and researcher Cloé St.-Hilaire. In Vancouver, it is $147 a month less on average.