Hamilton city council’s to discuss policy to limit short-term rentals

Hamilton’s planning committee will discuss a new policy to limit short-term rentals, in hopes to help with the housing shortage.

The short-term rental (STR) policy was first introduced to council in July.

The city states in the proposal that the goal is “to protect the long-term rental housing market by prohibiting STR as investment properties and limiting the STR use of secondary dwelling units.”

City council will hear from 22 delegates today and will vote on whether to move forward with the policy.

READ MORE: Home sales, prices predicted to fall nearly 6% in 2023: CREA

Under the new policy, units can only be rented if they receive a business licence from the city.

The licence will allow hosts to rent out their primary unit for short periods, no more than 28 nights at a time, with a cap of 120 nights annually.

According to the Tenant Power Research Collective, there are more than 1,300 active STR’s in Hamilton.

The collective says the majority of Hamilton listings are available for the entire year, which suggests they are not primary residence, but rather the owners second property for the purpose of generating income.

READ MORE: New speed cameras coming to two of Hamilton’s busiest streets