Tuesday, September 4, 2012

Short-Term Rental Controls

Besides the obvious "lifestyle" advantages to be enjoyed via property ownership in the southern Georgian Bay area, local property owners often engage in some form of rental activity to help defray their ownership costs.  Rental opportunites in the area include formal rental programs available throught the likes of Blue Mountain Resorts and the Village at Blue, renting a property out for the entire ski season typically December through April for those that may head south for the winter and lastly short-term rentals ie: a week or weekend here and there.
  Often when speaking with potential buyers for the first time, they will mention the possible intent of renting their chalet, condo or other property out when not being utilized personally, not realizing that some stipulations may exist that could impact their ability to do so.  Some condominium corporations in the area have rental limitations in their rules and regulations for example and more recently, the Municipality of the Blue Mountains annouced plans to implement a potential licensing process to manage short-term rentals throughout the municipality.
  What is a short-term rental?  Typically these are rental periods for less than 30 consecutive days.  For example, a party may rent a chalet or condo for a weekend, then the following week another tenant(s) arrives for a 5 or 6 days.  In many instances these types of rentals have become problematic in certain neighoburhoods with reports of excessive noise and drinking, improper parking, garbage being strewn about and so on.  Obviously such behaviour from short-term tenants affects residents that live full time or vacation at their properties and this in turn can impact property values.
  Both the Ontario Municipal Board as well a recent court ruling have cleared the way for the Blue Mountains to draft a bylaw that would govern short-term rental housing thoughout the municipality.
  For those persons considering the purchase of a property regardless of the location and renting the property out to offset your ownwership costs is part of the plan, make sure that you and or your REALTOR® conduct the proper due diligence either prior to submitting an offer or as one of your conditions before firming up your purchase. For further information please do not hesitate to "contact me."

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Contact Me

Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4



Email:
rickcrouch@propertycollingwood.com



Direct: 705-443-1037



Office: 705-445-5520 ext 230




Website:
www.rickcrouch.realtor















My Profile

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.