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What Short Term Rental Regulations could mean to you, the Cottage Owner

March 19, 2021

Jayne is a founding member of Ontario Cottage Rental Managers Association (OCRMA), which advocates for and promotes responsible management practices in Ontario’s short-term rental industry. By sharing knowledge and developing best practices, the OCRMA is dedicated to providing an optimal experience for Guests, Owners, and neighbours, while contributing to the economic sustainability of the stakeholders and municipalities in which we operate.

We want to work with communities to end short-term rental regulations that are harmful to travelers, reduce local economic impact, raise the cost of accommodations, and deny fundamental property rights.

Since Covid, there has been an astronomical increase in vacation rental bookings. Private vacation rentals have grown substantially while shared accommodations, such as hotels and resorts have declined as families choose to travel more safely. Within the last two quarters, Jayne’s Luxury Rentals has experienced growth of over 1200% compared to the same time last year.

Vacation rentals increase the economic prosperity in our communities as new guests explore these beautiful Ontario destinations. Jayne’s has had at least 6 families buy a property in the region after renting as they saw how wonderful Ontario cottage country actually is. These purchases help the community tax base, local businesses and bring more prosperity to the region’s real estate industry.

If short-term rentals were to become regulated, there will be less interest in purchasing properties in the area due to the lack of potential rental income compared to other areas with no rental restrictions. In turn, this would minimize the amount of rental supply, resulting in less visitors and less local economic activity. In some cases, buyers have purchased properties based on a monthly rental return and with these new regulations it could force owners to sell and depress market prices.

In the Collingwood area, short-term rentals are banned and you cannot rent a vacation for less than 30-days. If a family wants to spend a week in the Blue Mountains, they have the choice of staying at a hotel, a resort, or a Bed & Breakfast, none of which are private and Covid friendly. Does a family feel safe with these limited accommodations in a post-Covid era?

Please watch my video and contact me if you are interested in supporting the effort of challenging these regulations.

 

The Town of Huntsville is considering Short-Term Rental Regulations and Outright Rental Bans.

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