B.C. Housing investigating whether affordable housing units may be renting on Airbnb
A B.C. NDP affordable housing program that was supposed to provide taxpayer-subsidized units with rent caps is undergoing a review to determine why some units are listed for hundreds more a month and whether some ended up on Airbnb.
It’s led the official Opposition to brand the HousingHub program a “massive housing flub” and a clear example, they say, of B.C. Housing’s mismanagement of affordable housing programs.
The B.C. Liberals listed six buildings across the province in Merritt, West Kelowna, North Vancouver, Nanaimo, Maple Ridge and Victoria where — despite developers receiving low-interest loans from the province — the units are now renting for considerably higher than the promised rent cap.
For example, Olympic Villas in Merritt — which in 2020 received $16.6 million in low-interest financing from the government in exchange for setting aside 45 of the 75 units for below-market rent — has multiple units listed on Airbnb and Expedia for up to $250 per night and units renting for up to $2,380 per month.
