As the third largest city in BC, Kelowna has a growing tourism destination. Known for wine and lake-side living, the community is bustling with outdoor activities. With 2,000,000 visitors a year and a local population of 150,000 the city has the infrastructure required to become one of Canada’s top tourist hot spots.
Our Thoughts on Airbnb in Kelowna
Airbnb’s in Kelowna have been around for quite some time. The last couple of years the municipality have created bylaws to restrict the short term rental market, but if you own commercially zoned property, you will likely be approved for a business license. Kelowna is affected by the empty homeowners tax, which taxes any vacation rental in the area at 1% of property value per year. So, with that, we recommend people be very confident with their numbers because that could make, or break, your investment.
Overall, we feel confident that Kelowna is poised to grow over the next ten years into a tourist powerhouse. So if you’re looking for a long-term investment, this could be the right market for you!