Kelowna’s empty apartments spark calls to ease short-term rental rules before summer
Kelowna's tight housing market and strict short-term rental regulations are causing concern among local stakeholders. The city's vacancy rate has surpassed 3.8 per cent, with many apartments sitting empty due to current restrictions. Stakeholders are urging the province to relax rules and fast-track an exemption to boost long-term rental and tourism.
The provincial regulations, introduced in May 2024, restrict short-term rentals to principal residences only. This has led to a significant decrease in available short-term rentals, with many apartments for rent now sitting empty. Dale Holmes, a local owner of short-term rental units and a management company, has witnessed this firsthand.
Kelowna's vacancy rate has reached over 5 per cent and is on track to stay above the required 3 per cent rate for two consecutive years. However, changes to allow short-term rentals again wouldn't go into effect until fall 2026. Holmes has proposed an amendment to the Short-term Rental Accommodation Act to relax regulations as early as May instead of November. Stakeholders want the province to act swiftly to avoid losing the summer season and major events like the B.C. Summer Games and the Memorial Cup.
The city has until the end of March to request an exemption, but even if approved, relaxed rules would be implemented no earlier than November. Chris Petty, owner of Basil and Mint restaurant, highlights the devastating impact of these restrictions on the local tourism industry and business sector. Stakeholders are united in their call for the province to fast-track the exemption to address Kelowna's housing crisis and support the local economy.
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