If you've ever looked for property in Canmore, you know that the zoning rules and regulations can be confusing. From residential neighborhoods, short term rentals and tourist home regulations, the home hunting process can feel daunting - but it doesn't have to be! We’re here to break down the 3 most popular designations in Canmore so you feel confident when taking on your next real estate endeavour. Whether you're looking for a full time family home, investing exclusively in short term rentals, or something even more flexible, understanding these land use bylaws is key.
According to the Town of Canmore bylaws, visitor accomodation is defined as "A building not intended for residential use where sleeping facilities are provided for persons for periods of up to 30 days and which may also contain a variety of services and amenities for the benefit of the guests." These amenities can include a 24/7 front desk, pool and hot tub area, fitness center, cafe, restaurant, spa, underground parking, and more.
Hotel Condos vs. Tourist Home
These two categories are easily confused. Both offer the ability to rent out the unit short term as a profitable AirBnB with one key differentiating factor. Hotel condos, such as Solara Resort & Spa or Stoneridge Mountain Resort, do not allow any occupant to stay longer than 28 consecutive days (including the owner). Tourist housing however, allows BOTH short term rentals and long term living. It's the most flexible zoning category Canmore has to offer and also the most rare, resulting in fewer listings and higher prices. There's a handful of units like this along Bow Valley Trail, Spring Creek and Railway Avenue.
Residential properties are zoned exclusively for long term living, which is categorized as anything longer than 30 days. These homes are perfect for anyone looking for a personal vacation home or full time residence.
Additionally, residential zoning offers a much more stable investment opportunity! Secure a long term tenant and generate consistent rent each month to cover your overhead costs, while generating equity to help you strategically move up in the market.
*All information is based on details available as of June 2023*
Posted by Alex Kocian on