I have had enough of the provincial NDP government meddling with capitalism in some of its more recent laws.
The ban on short-term rentals is destroying the viability of some B.C. residents making decent earnings. Sure, we need more long-term rentals or housing on the market, but when some properties were specifically built or renovated to be STRs, this legislation seems like a heavy-handed onslaught to some enterprising B.C. residents. I also believe that banning STRs will greatly affect the number of visitors to many cities and resort areas in our province. I expect that quite a few visitors would likely forgo visiting if their favoured accommodation is a short-term rental.
However, the prohibition does not seem to apply to the hotels and resorts that have suites or cabins that are fully equipped units that are suitable for long-term rentals. If they are exempt from this ruling, it must be because they have a commercial group of multiple units. That being said, what is to prevent a group of STR owners with properties distributed in a relatively small compact area to band together be become a commercial resort entity and carry on as before?
The other legislation that is anti-capitalist is the speculation tax on properties. It meddles with ownership of residences that are primarily used as a seasonal home by families throughout the year. Sure, tax the foreign owners and speculators that have no personal family links to the properties, just leave the seasonally used residences out of the mix.
Luckily for us, we have a seasonal home outside of the areas this current legislation is enacted upon, but we live in fear that we could be included with the stroke of a legislative pen. Our seasonally used home is quite remote from large employment centres, so I expect that we will remain safe for the time being.
I have lived in B.C. for all of my 77 years and have not had bad thoughts about the BC NDP until recently with its really socialist leanings. I have never seen a government do so much of an intrusion on privately owned homes.
Shame on the BC NDP for taking such a mean-spirited swipe at decent taxpaying B.C. residents.
Bruce Moore
Colwood