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- #21
They have, or are planning to have, something similar in Vancouver and Whistler.
As mentioned, property gets taken off the market for long term rents, and is held for short term gains, with subsequent hike in available rents, and indeed sales of property, along with City/Council income from Hotel taxation falling, and Standards/H+S being unmonitored in these properties.
One other element to this, which a lot of people talk about, is having owners who don't live in the apartment having a vote on house issues i.e. they typically won't vote for improvements which cost money as they wont be affected or benefit from