Calgary Condo Boards Now Must Approve AirBnBs to Operate
The City of Calgary required persons who wanted to use their property as a short-term rental to get a business license. This was introduced by the city in 2020. The City amended the “Business Code” on June 6, 2023.
“License Bylaw” governs the operation of short-term rental services. These include AirBnB or VRBO. There are new obligations to provide a fire safety plan and some floor plan-related requirements.
The City implemented a condition that for all short-term rental businesses operating within a condominium corporation. The applicant for a business license must provide proof of the condominium board’s consent for the unit, or part thereof. This is if it’s to be used as a short-term rental.
The new regulations go into effect on January 1, 2024. This will make obtaining a business license for short-term rentals in condominiums more difficult. Also, it will give condominium boards additional authority. This authority can approve or deny these business license petitions.
Further details can be found in the City of Calgary press release.
What Effect Will This Have on Condos in Calgary?
The new rule in Calgary requires condo boards to give written permission to use Airbnb and VRBO in their condo buildings. This will have some effects on condos in Calgary:
Condo boards will have more power to decide if short-term rentals are allowed. They can set rules based on their bylaws to make sure everything is fair and safe for everyone living in the building.
Protecting the building:
This rule helps to keep the condos as homes, not just places for visitors. It means there won’t be too much noise or people always coming and going. This way, residents can have a peaceful and comfortable living environment.
Better security and privacy:
With the new rule, condo boards can ensure that only approved guests can stay in the building. This helps to keep everyone safe and protect their privacy.
Condo boards might limit how many units can be rented out or how long they can be rented. This ensures a good balance between people living there and visiting.
The new rule helps to make it clear who handles what. It sets out rules for licensing, insurance, and following the building’s rules. This way, there are fewer disagreements, and everyone knows what to do.
As a building owner or tenant, you may be wondering if this will change your condo fees. We are not currently sure of all the effects this condominium property act will have. However, we do feel that this is a positive move in maintaining condo property value in Calgary.
Remember, the specific effects might differ for each condo building in Calgary. The new rule gives condo boards the authority to manage short-term rentals. This is based on what works best for their residents and the building as a whole.
Who Regulates Condos in Alberta?
Condos in Alberta are regulated by RECA (Real Estate Council of Alberta). As the governing body responsible for condominium properties, RECA plays a crucial role. This is in ensuring their proper property management and operation:
- Real Estate Council of Alberta: The regulatory authority overseeing condos in Alberta.
- Guidelines and Rules: RECA establishes rules and guidelines. These are for owners, property managers, and boards to follow.
- Protection of Rights: RECA safeguards the rights and interests of condo owners. This promotes transparency and accountability.
- Financial Management: RECA ensures proper financial management within condo communities. This helps maintain real estate value.
- Governance Practices: They oversee governance practices, ensuring adherence to established standards.
- Dispute Resolution: RECA provides mechanisms for resolving disputes related to condos.
- Consumer Protection: They work to protect consumers. This is done by enforcing regulations and promoting ethical conduct.
- Support and Resources: RECA offers resources and support to condo boards and owners. This assists them with the complexities of condo ownership and management.
The Real Estate Council of Alberta is the regulatory body that oversees Alberta condos. It establishes guidelines and rules while protecting the rights of condo owners. They promote:
- Proper financial management
- Ethical conduct
- and provide support to ensure the smooth operation of condo communities
What Kinds of Condos can be found in Calgary?
In Calgary, you can find a variety of condos. This includes:
- High-rise condos
- Low-rise condos
- Townhouse-style condos
- and apartment-style condos
These condos offer different sizes, layouts, amenities, and locations. This means they cater to the diverse preferences and lifestyles of potential buyers or renters in the Calgary area.
Want to Learn More About Condo Management in Calgary?
Condo ownership can sometimes be a complicated task. This is why professional property management companies like Catalyst are here to help.
Our condo management team is always around to answer your questions about condo management in Calgary.
Need professional condo management for your property in Calgary? Reach out to the experts at Catalyst Condominium Management today for more info.