This is the best summary I could come up with:

British Columbia is bringing in new rules to strictly regulate short-term rentals, including requiring hosts to register with the province, giving municipalities the ability to raise fines for those that don’t and creating a team to enforce the proposed legislation.

Premier David Eby said Monday that “short-term rentals have gotten out of control” in B.C., estimating the proposed legislation could see 8,000 homes returned to the regular housing market out of the 28,000 that are currently listed.

For those who are operating multiple units, the rules are changing May 1 when this legislation passes and you should bring yourself up to speed,” Mr. Eby said, suggesting they either sell or rent their properties long-term to permanent residents.

Mr. Eby acknowledged he has used Airbnb himself and insisted throughout that it is a benefit when people are genuinely sharing their homes as vacation rentals, which is why the province didn’t impose a complete ban.

“We’ve been asking for this for a while because it’s been hard for us even to have any bylaws that are effective,” said UBCM president Trish Mandewo, a councillor in the Vancouver suburb of Coquitlam, which has seen a 40-per-cent increase in short-term rentals in a single year.

Airbnb emphasized that a recent report from the Conference Board of Canada concluded that short-term rentals are not responsible for the significant rent increases in 19 of the country’s largest cities.

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