Prince Edward County is set to join the first jurisdictions in Ontario to regulate Short Term Accommodation (STA) rentals. In other words, there will soon be new rules about 1) what type of property can be used as an Airbnb or similar vacation rental 2) how many STA can operate in a given area.
Last Wednesday we attended an information session for real estate agents and brokers, hosted by the municipal council. The regulations are beginning to take shape, but there are still a lot of unsettled questions.
Here are our main take-ways from this meeting:
Primary residences that you share with short-term renters (like a duplex or a traditional bed and breakfast) are NOT subject to these regulations.
Short Term Accommodations (e.g. rented on Airbnb) must not exceed 4 bedrooms.
STAs shall be limited to a maximum density of 15% of existing dwelling. The radius will vary between 120 and 500 metres depending on your zoning and municipal services.
What is unclear is how the county will register these properties.
If you are:
A property owner in Prince Edward County
Considering your retirement options, including a seasonal home
Thinking about investing in a short term rental property in the county, or elsewhere in Ontario!
You will want to be aware of how these regulations are implemented.
If you would like to receive up-to-date information about how the county will register these properties and other regulations, we’ll be providing information as we receive it.