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A property that is sold can then only have 4 changes of occupancy in high season (July and August). And the owner can only operate one STR.
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A general bylaw needs a majority vote (50% or greater) in order to pass.
An STR property will be grandfathered if the owner can:
The status of being grandfathered confers the following:
See above for the limits on contracts during high season (July and August). There are no limits on the number of contracts allowed outside of high season, whether or not the STR is grandfathered.
Hosted Stays and Cottage Colonies are not affected by the General Bylaw. They can operate as before, without limits on changes of occupancy, etc.
As mentioned above, if all your STR properties are grandfathered, you may continue to operate them all as STRs. If they are not grandfathered, only one STR is allowed per owner.
Only if the STR property qualifies to be grandfathered. Moving forward, corporations are not allowed to operate new STRs.
A “natural person” is a legal term that simply means a real human being.
Yes, but only when every shareholder, partner, or member of the legal entity is a natural person, as established by documentation provided by the applicant at the time of registration.
STRs may not be operated in any Deed-Restricted unit or in an unrestricted unit in an Apartment Building or Townhouse owned, operated and managed as rental housing unless they meet the requirements for grandfathering.