The Nova Scotia government is toughening its short-term rental rules to increase long-term housing supply.
This fall, the province plans to increase registration taxes on STR operators, such as Airbnb, with new annual fees ranging from $240 in rural communities to $3,600 in the centre of Halifax. Homeowners renting out their primary residences will be charged $10.
Hotels and motels will not be affected.
“We are concerned about the impact short-term rentals have on our housing market, and we are prepared to do more if necessary,” John Lohr, the province’s housing minister, said in a news release. “We want more of these properties used for the long-term housing our communities desperately need.”
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.