Canada Global(Web News)Deputy Prime Minister and Minister of Finance Chrystia Freeland says the federal government is exploring alternatives to help provinces convert short-term rentals to long-term rentals.
Freeland made the comments at a joint press conference with Industry Minister Francois-Philippe Champagne and Treasury Board President Anita Anand on Tuesday. Freeland’s comments come after the BC government announced earlier this week that it would introduce legislation to make changes to the short-term rental market. He said that this is a right step taken in the right direction at the provincial level.
“We know that short-term rental homes are offered through sites like Airbnb and Verbo, but that means Canadians have fewer homes to rent, and they’re more likely to be out there,” Freeland said. Not able to live full-time, especially in urban areas. And this problem can be seen. In densely populated areas of the country. That’s why our government is exploring all options at the federal level on how to convert short-term rentals into long-term rentals or permanent homes that are easier for Canadians to live in.
According to Freeland, 30,000 units could be vacant if short-term rental housing is combined with the long-term market in Toronto, Montreal and Vancouver. This could alleviate housing shortages.
