Monday, April 23, 2012

Beware of Short-Term Property Rental Bylaws

I recently read an online news article pertaining to short-term cottage rentals in Wasaga Beach which is worth passing on to my readers.  A spokesperson for the website  feels a bylaw passed in 2003 but seldom enforced will affect cottage rentals and hence tourism in the popular beachfront community.  
The issue of short-term rentals is nothing new to the area as the Blue Mountains has been grappling with short-term condo and chalet rentals in close proximity to Blue Mountain Resorts and other area ski clubs for years.  Often, property buyers in the area place their condos and chalets in formal rental programs or list them with real estate brokerages in order to generate revenue to offset their ownership costs.  Many of these properties sit vacant for a good portion of the year any so this practice makes perfect sense.  As with anything however, a few bad actors can spoil the situation and all too often a rented chalet, cottage or condo becomes an out-of-hand party that causes havoc in an otherwise quiet neighbourhood.    What constitutes a "short-term" rental?  Typically the rental period is less than 30 consecutive days. More often than not, short-term rentals in the area are only for a week or a weekend with a family coming up to ski, golf or to simply enjoy the area as a whole.  Out-of-town and even local kids have been known to pool their resources in order to rent a property for the weekend in order to have a party which otherwise would not be allowed in their parent's homes. With texting and online social media, these parties can quickly swell in numbers with the rental property taking the brunt of it.  Upon visitng one of my condo listings a few years ago, I discovered it had been the scene of a bachelorette party the night before and the place was littered with amongst other party favours, plastic penis whistles. 
  Many condominium developments in the area frown on short-term rentals fearing they will compromise the use and enjoyment of adjoining units belonging to neighbours.  Subsequently the rental issue has been addressed in the condominium corporation's rules and regulations.  But what about neighbourhoods comprised of single family homes?  That's where the local municipalities have and continue to take issue with short-term rentals by passing bylaws prohibiting them. 
  For those thinking about purchasing a recreational property "anywhere" with the intent of renting it out either through a formal rental program  or even on their own, it's best you consult a REALTOR®
 in order to determine if there are any restrictions that could thwart your plans.  For addtional municipal informtion regarding short-term rentals in the Blue Mountains click here.


Rhodehouse Executive Suite Rentals said...

Getting a realtor to help you out is the best way and simplest way. Short term Rental properties are great for any number of reasons, and you just need to do your home work before you go out and purchase a property for rental purposes.

Obasa Suites Corporate Housing said...

With the increase of business spreading across the country, and even into other countries, business people will require places to stay. Corporate housing is often cheaper than staying in a hotel for extended periods, and it gives you the luxury of living in a home away from home.

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Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.