Editor’s note: To what extent are we looking at a province wide trend? Is this spike happening in our area, or is it a more urban phenomenon?
By Patrick Penner, Tri-Cities Dispatch, Local Journalism Initiative Reporter
The number of landowners in the Tri-Cities using their properties for short-term rentals spiked 45 percent in one year.
In August, sites like Airbnb and Vrbo posted 807 active listings for Coquitlam, Port Coquitlam, Port Moody, according to data provided by AirDNA, a market research provider.
That’s up from 446 total listings in August 2022. Despite the number of active listings being halved during the COVID-19 pandemic, overall rental growth still jumped 35 percent since 2018.Continue reading Number of Tri-Cities properties cashing in on short-term rentals spikes 45% in year