LET’S TALK ABOUT ZONING AND YOUR OPTIONS
Phase I: Nightly Rentals When the Owner is not using their home, the Owner has an obligation to rent their property when they do not use it. This type of property works best for Owners who see their home as a good quality investment with huge personal perks. Phase II: Typically Hotel Managed Condominiums These homes are generally incorporated into an ongoing ‘hotel’ operation. Benefits include revenue as well as standard hotel services (cleaning and daily maid service) with property amenities. The Owner is allowed to use their property for a maximum of 28 days in the Summer months and 28 days in the Winter months. Additional usage may be at the discretion of the ‘hotel’ manager. These types of homes are best suited for investors primarily interested in revenue and long-term market appreciation with occasional use. Quarter Ownership An Owner occupies every fourth week in a home. The calendar rotates from one Owner to the next so eventually every Owner receives each of the holidays. The homeowners association manages all Owners in terms of looking after logistics. Real Estate titles can be sold, financed and passed on. As an Owner, you have fee simple title with a leasehold interest. What does a property management company do for me? There are several property management companies to look after your Whistler home, offering a wide range of services such as renting your home and providing cleaning and concierge services. A list of companies operating in Whistler is available upon request. Fees that management companies charge range between 40% to 50% of rental income and may include housekeeping fees. How does rental work in hotel condos? For hotel-style suites, the rental income is pooled and divided out to each Owner, depending on the suite size, view or a factor called ‘interest upon destruction’. You must use the rental management company that handles the hotel. Ask for our individual packages available for most complexes.
What is Whistler’s limited development ‘bed cap’? What protects my investment? The Accommodation Land Use Inventory was established as a monitoring tool to track Whistler’s annual accommodation capacity in terms of bed units. A unit is considered to be developed once it has passed building inspection. An underdeveloped bed unit is defined as one which has been approved by zoning or has been committed to by Council but has yet to be constructed. The Municipality of Whistler is currently reviewing the Bed Unit inventory as part of their Official Community Plan update. Under current Resort Municipality of Whistler policy, development has been capped. What is the population of Whistler and how many people visit? Whistler is a thriving town of about 12,000 permanent residents. There are also approximately 2,500 seasonal residents and 11,500 second homeowners. Whistler’s population can swell to over 40,000 during peak months. Average annual tourist visits are approximately 3 million visitors. Zoning: How often can I use or rent my home? Properties may have different types of ownership which defines the Owner’s use for their property. Nightly rental refers to the ability to rent your property to tourists or guests who stay in your home less than 28 consecutive nights. There are two types of zoning that deal with nightly rental; phase one and phase two. Properties that are zoned residential are not allowed to be rented on a short-term basis. Residential Zoning Residential zoning refers to properties that are occupied full- time or are vacation homes. Residential zoning does not allow homeowners to rent their homes to tourists (defined by guests staying for a duration shorter than 28 days). You may rent on a monthly basis to tenants who occupy your home full-time. Many family homes in Whistler have suites, which are apartments built into their homes. Suites help to provide: rental income for Owners, housing for employees and peace of mind that our neighbourhoods are occupied.
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