For those strata corporations with concerns about the impact of short term rentals in your community or that have existing bylaw restrictions or prohibitions on short term rentals, please be aware of changes to the Strata Property Act Regulations that now allow for the imposition of fines up to $1,000.00 per day for violations of short term rental bylaws. As with many items in the Regulations, they only apply if included in your bylaws. We are starting to see clients make this change to their bylaws to provide them with a more effective enforcement tool than was available previously. Given the potential amount of the fines and how quickly such items can find themselves in dispute, an investment in legal advice for proper drafting an inclusion of these potential fine amounts in your bylaws is crucial.
