British Columbia

Read the article. So they're basically saying "Hey all you folk who were previously renting out illegal basement suites while we did nothing about them (to protect you, or your tenants) and looked the other way! We're now agreeing to put you on paper so long as you're not too rich, and you're not listing them as STRs! Good news everybody!"

So the richest investment property class can keep listing their apartments and condos on AirBnB while everyone looks the other way. But a "below market value" basement suite must have a "self-contained bathroom and kitchen" while the other (poor) owners "must be living in the primary residence", and can't "make too much money or they don't qualify".

So poor people can rent out their basement (already happening) while rich people can buy up whole blocks to list as short-term (ditto).

Nice.

Got it. Business as usual.