Photo shows the loft on st. paul's in Belleville (which just happens to be owned by my twin brother Tim McKinney)
With a booming tourism sector (even this summer during the pandemic), Prince Edward County is both an appealing destination and a hot market! The conversion of single-family homes to short-term rentals has continued to be extremely popular (and controversial). Rentals make up approx. 17% of the housing market here.
Whether you are looking forward to an escape from the city to stay at your favourite AirBnB when it’s safe to do so or investing in property, here’s what you need to know about STAs in the County...
The municipality of Prince Edward County has introduced regulations for short term accommodations through a zoning by-law amendment, which limits the total number of STAs to a maximum density of 15% of existing dwelling units. For clarification, a dwelling is defined as a short-term accommodation if any portion of it is rented with the intention of financial compensation for a period of less than 30 days. Short-term accommodations include Bed and Breakfasts but not motels, hotels or accommodation where no payment is exchanged. Maximum densities do not apply to STAs that are also used as principal residences (e.g. bed and breakfasts).
The municipality has taken a balanced, 'made-in-the-County' approach to regulating short-term accommodations aiming to protect the character, amenities and quality of existing residential neighborhoods. At the same time, these regulations recognize how important visitors staying in the many wonderful short-term accommodations are to the local tourist economy. The regulations are meant to create a level playing field for all operators and protect consumers. Sounds like a win-win.
For the nitty-gritty, visit the municipality's planning page on short-term accommodations.
Make sure your Realtor® knows these and other local regulations when purchasing or selling property in the County...or better yet, CALL ME. I can help.