Waterloo council votes ‘yes’ to only one Airbnb-type rental per property

Anyone who owns property in Waterloo will now only be allowed to operate an Airbnb-style rental in the building where they live, at least for now.

City council voted on Monday for changes for short-term rental licensing. A statement from the city said such rentals, meant for “the travelling public,” help tourism and provide a source of income.

But the municipality said the downsides of such properties include “reduced long-term housing availability, potential disruptions to residential neighbourhoods, and gaps in tenant protections.”

Changes approved Monday for Waterloo’s residential rental licensing bylaw mean a short-term rental can only be in “an owner’s principal residence in low-rise rental properties regulated by the by-law.”

The city statement said this change is expected to put 100 units back into the long-term rental market.

The city also expects “more responsive maintenance and pride of ownership” if the owner lives in same building they’re renting out.

While such rentals can still provide a source of income for a property owner, the statement acknowledges that “short-term rentals can no longer be operated as large businesses.”

The city can now apply for federal government grants related to short-term rentals.

These changes are described by the city as only “an interim measure that will allow staff to gather critical data on the benefits of Short-Term Renal enforcement until a more comprehensive solution can be analyzed and presented to Council as part of the City’s broader rental licensing review.”