by Timothy Edward, Local Journalism Initiative Reporter

As part of their efforts to stabilize the cost of housing in Canada, the federal government is investing $50-million in the Short-Term Rental Enforcement Fund. With an estimated 235,000 Airbnbs, Vrbos and other short-term rental units in Canada right now, the goal of the fund is to “bring non-compliant units back to the long-term housing market” by helping cities to properly enforce regulations.

As Housing Minister Sean Fraser noted, the aim is “to make sure that short-term rentals don’t contribute to Canada’s housing crisis.”

The fund will specifically finance hiring enforcement staff, managing complaints and conducting inspections. To be eligible for funding, municipalities, Indigenous communities and (by exception) provinces and territories must already have strict regulations in place, include limiting short-term rentals to principal residences.

“There are more than 200,000 short-term rentals across the country — like Airbnbs or Vrbos — that could be turned into housing,” Prime Minister Justin Trudeau said. “So we’re giving cities more resources to crack down on those rentals and unlock more homes for Canadians.”