UNDERSTANDING CANMORE ZONING

#realtorinthemountains | #liveworkplaycanmore


Understanding zoning bylaws can be time consuming and tricky. When purchasing a property in Canmore, Banff or the surrounding area, it is important to engage a qualified REALTOR® to provide you with the guidance and information needed to help you make informed decisions. This begins with the identification of areas that have the appropriate zoning for your particular needs. Below is a brief synopsis to provide you with an initial overview. More detailed information can be provided by our exclusive agents.

  | Residential |

This zoning category covers a majority of the Bow Valley Region and includes single family dwellings, duplexes, four-plexes, townhouses and condo style apartments; and provides the owner with the zoning necessary for full-time, long-term rental, and/or part-time living uses. 

For individuals who want the freedom to live in a property with limited restrictions in terms of your personal use, along with the lowest property taxes of the zoning groups. 

For those who would like to purchase a property for investment purposes, there are established property management companies that can provide services with varying costs based on the provider, usually 7-12% of the gross revenue.





ADVANTAGES

  • Limited Restrictions on Personal Use
  • Zoned for Full Time Living
  • Zoned for Part Time Living
  • Zoned for Long Term Rental
  • Encompasses All Types of Housing Styles

DISADVANTAGES

 | Tourist |

This zoning category includes apartment style condos and provides the owner with the zoning necessary for full-time, long-term rental, and/or part-time living uses. 
This being the most flexible zoning category within the Bow Valley. Tourist zoned properties permit full-time living, long-term rentals (over 28 days), and short-term rentals (nightly/weekly). 

Properties with this particular type of zoning can be managed independently, through a property management company (long-term rentals) for approx. 7-12% gross revenue, or a vacation rental company (nightly/weekly) for approx. 40-60% of gross revenue.

All dependant on the facility, it may be difficult to obtain standard mortgage financing and the option for a commercial loan may have to be investigated, otherwise privately funded or cash deals only.




ADVANTAGES

  • Most Flexible Zoning Options
  • Zoned for Full Time Living
  • Zoned for Part Time Living
  • Zoned for Long Term Rental (over 28 days)
  • Zoned for Short Term Rental (nightly/weekly)
  • Encompasses All Types of Housing Styles

DISADVANTAGES

  • Standard Mortgage Financing is typically unavailable
  • Cash-Only Purchases or Commercial Mortgage Approval Required

  | Visitor Accommodation |

Also referred to as Hotel Condo, this property style allows for up to 30 days of use at a time, year-round. For the rest of the year it can be left vacant or added to a cooperative rental pool to be professionally managed. This type of rental is intended to generate revenue from tourist use to cover the operating costs of the unit.

Properties with this particular type of zoning can be managed independently, through a property management company (long-term rentals) for approx. 7-12% gross revenue, or a vacation rental company (nightly/weekly) for approx. 40-60% of gross revenue.

All dependant on the facility, it may be difficult to obtain standard mortgage financing and the option for a commercial loan may have to be investigated, otherwise privately funded or cash deals only.Many of these accommodations are cash-only transactions, as they are not eligible for your standard mortgage financing




ADVANTAGES

  • Zoned for Short Term Rental (nightly/weekly)
  • Zoned for Part Time Living (under 28 consecutive days)
  • Vacancy is Permitted when Not in Use
  • Hotel Style Front Desk Management
  • Complex Rental Pool or Self-Management Options

DISADVANTAGES

  • Standard Mortgage Financing is Not Available
  • Cash-Only Purchases or Commercial Mortgage Approval Required
  • Stays can be a Maximum of 28 Consecutive Days

Neighbourhoods: 
Bow Valley Trail

 | Employee Housing / PAH | 

(Perpetually Affordable Housing)

The Bow Valley region has a small population, however, due to it’s beauty and the lifestyle it provides, the region employs workers from all over the world. Many individuals bring holiday visas and stay for months at a time. 

With the core industry being hospitality and tourism, the Bow Valley suffers from seasonal staff shortages during the summer months, and it is projected that part of this is attributed to a lack of staff accommodations. Due to the low vacancy rate, it can be difficult to find affordable housing.

A detailed staff housing guide for the region can be found here along with another interesting read, the 2018 Labour Market Review




Employee Housing/PAH is intended to alleviate some of the issues connected with staffing by the following criteria:

  • Purchase of a condo to provide rental accommodation to owners or employees (work 20 hours/week in Canmore) or
  • Purchase of and live in a home if working 20 hours/week in Canmore. (i.e. Montane Village and Whiskey Jack Chalets) or
  • Purchase of Perpetually Affordable Housing (PAH) unit from the Canmore Community Housing Corporation (CCHC) which may be deed and/or resale restricted.
For more information on PAH, visit www.canmorehousing.ca

Neighbourhoods: Bow Valley Trail

Get In Touch

Donna & Ryan Houston

eXp Realty Canada Inc.

Mobile: 403-688-0388

Phone: 403.688.0530

ryan@liveworkplay.today