Short-Term Rentals to Return to Homes for Sale in Kelowna BC

Kelowna investors and property owners may be happy to find out that short-term rentals (STRs) are back on the table. After a period of restrictions, the City of Kelowna is once again going to be accepting business license applications for STRs. This change was passed in the city council this month to match the new provincial standards for rentals. For those contemplating purchasing homes for sale in Kelowna BC, this change could make or break your decision!

New Regulations & How This Impacts Buyers and Sellers

After reviewing the short-term rental regulations imposed by the city last spring, staff recommended an update. Kelowna has been booming with new developments, and long-term rental vacancies are up. These two factors have been enough to make the city reconsider last year’s decision. Under the new regulations, short-term rentals will be permitted in an owner’s principal residence for stays of less than 90 days. Legal secondary suites and carriage houses will also be permitted under the revised policy. STR operators must have licensing from the City of Kelowna to operate, and their rentals will need to be registered with the province to avoid fines. 

Whether you’re buying or selling, these new regulations matter. Buyers can now consider the potential for short-term rental income, which might make higher-priced properties more attainable. Sellers, on the other hand, can highlight features that appeal to investors as valuable short-term rental assets. For example, secondary suites, carriage houses, lake access, or proximity to Downtown.

If you’re keen to apply for a STR license with the City of Kelowna, officials recommend using the online portal for faster processing. 

Contact me Today About Homes for Sale in Kelowna BC!

With Kelowna’s modified STR policies, homeowners and sellers have more reasons to love their investment. Whether you’re looking to buy, sell or make the most out of your home, the new rules offer some flexibility. If you’re curious about how these changes will impact you, contact me today! Don’t hesitate to reach out with any questions about homes for sale in Kelowna BC! Be sure to check out my brokerage’s website for more information like this.