A new report from McGill University commissioned by the British Columbia Hotel Association found that British Columbia's long-term renters have been paying an extra $2 billion in rent between 2016 and 2019 due to the impact of short-term rentals such as Airbnb and VRBO. The study recommends a province-wide approach that includes registration and restrictions on the industry to help curb the soaring housing costs. The lead author of the study estimates that the median leaseholder in Vancouver was paying an extra $20 per month due to short-term rentals last year.
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