Vernon preparing to regulate short term rentals

If you operate a short term rental in Vernon, you may soon have new rules to follow.

This week a staff report to Vernon city council shows the city is working on draft regulations for the sometimes controversial industry.

The popularity of short term rentals has taken off as a way for property owners to make some extra money while providing travelers with an alternative accommodation option.

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But the practice of renting out all or part of a suite, house or apartment to holiday markers has also been criticized.

Critics argue the practice takes some dwellings out of the long-term rental pool at a time when B.C. is facing a critical housing crunch and undercuts the established tourism industry.

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Exactly what Vernon’s regulations will entail is still to be determined.

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Staff is still working on the proposed regulations that are expected to be up presented to Vernon city council early next year.

Both Kelowna and Penticton already regulate short-term rentals by requiring short-term rentals to have a city business licence in most cases and stipulating which zones the rental businesses are allowed to operate in.

In many zones, Kelowna only allows new short term rentals of the owner’s principal residence, and in both cities, operators pay higher business licencing fees if they are applying to rent out a property which isn’t the owner’s principal residence.