Many Short Term Condo or Chalet Rentals are Prohibited

With over two million visitors a year coming to stay in our region, there are plenty of opportunities for property owners to realize some rental income if they wish.  For years, it has been common for condo and chalet owners in particular to rent out their vacation properties on a seasonal basis if they are not using it themselves.

new-image.JPGIn recent years though, more and more people have been renting out their properties for short term accommodation.  One week at Christmas can yield a rent that is equivalent to a month or more!  Residents have been complaining though about the increase in “party palaces” and the associated noise, garbage, traffic and various other concerns that short term rental accommodation sometimes spawns.

In February, the Town of the Blue Mountains passed an Interim Control By-law prohibiting short term rental accommodations in all residential areas as the matter is studied further.  Short term is defined as 30 days or less and, the by-law exempts properties such as hotels, motels and bed and breakfasts.

I’ve heard several people say that they think that this is as a result of certain commercial entities protecting their turf while others, such as the local ratepayers group, are expressing the views of residents especially those living in the area closest to the mountain.

If you are thinking of purchasing a property anywhere in the area, don’t assume you can rent it out on your own terms.  In addition to local by-laws, almost every condominium corporation also regulates rental rules.  There are properties zoned to permit short term rentals in the area and it’s critical for buyers to know which properties meet their goals and which ones don’t.

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

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About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Wednesday, April 30th, 2008 at 7:47 am and is filed under Blue Mountains, Buying Real Estate, Georgian Triangle - South Georgian Bay, Investment Property, Local News and Current Events, Vacation Property. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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  1. […] Many Short Term Condo or Chalet Rentals Are Prohibited  If You Are A Landlord In Ontario, Please Read This  […]

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