Prince Edward County

from EastTO a Fall Reset

by The Richards Group

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PRINCE EDWARD COUNTY

Renting a Home on Air Bnb in Prince Edward County

AG Real Estate Group - Team Lead Alexandra Grant

A short-term rental is deemed to be anything that is rented for a period of 6 months or less. Air Bnb, Bed and Breakfast are all included in this classification.

A recent article by Toronto Life is very misleading about how easy it is to purchase in Prince Edward County, let alone make a profit from a “short term rental”. There are many stipulations.

https://torontolife.com/.../a-toronto-family-bought-a.../

Prince Edward County became the permit process due to the abundance of investors coming from other regions and operating short-term rentals. This put the year-round rental market into a major crisis. Therefore the County had to step in and monitor and place rules on these short-term rentals. Furthermore, the County is one of the few counties that has this permit process for short-term rentals. Just a short distance away from the county in Hastings, Lennox & Addington & Frontenac there is no such permit process.

In the Summer of 2020, the Picton City Council made the decision to place a moratorium on ALL whole-home STA applications/licenses, which began to take place as of September 1st, 2020. This meaning Owners could apply, but they would not be reviewed or approved. Whole-home rentals mean you are renting out the whole house and not just a portion of it.

Fast forward to July 2021, the Picton City Council decided to continue the moratorium but indefinitely. This means you can apply for an owner-occupied STA, or for a grandfathered property only. An owner-occupied STA means that the owner lives in one section of the home FULLTIME, while they rent out the other section to guests. When a new buyer purchases a home with an existing STA they are responsible to resubmit the same application paperwork, however, it will be fast-tracked because it becomes “grandfathered” because there was already an approval in place.

It’s important to note that if a homeowner is found operating an STA without a license they are permanently banned from owning or operating an STA and there are also very large fines.

Welcome to the Waupoos region of Prince Edward County. Waupoos “whose name is derived from the Ojibwe Waabooz, “Rabbit” is situated on Smith Bay on Lake Ontario, Waupoos is in the centre of the county’s cider and wine industry. Located about 13 km from Picton, it is set among apple orchards, wineries, local farms, cheese factories, and forested hills. Further enjoy fine local fine dining, recreational centre with tennis courts & a marina only a short distance away. The home was constructed with an abundance of highgrade quality materials and there was much & unique thought put into the design & layout. You will enjoy southern views of Smith’s Bay and Waupoos island. The upstairs features a main living quarter with 3 bedrooms, a grand master suite, 3 season sun porch and open concept living, dining and kitchen.