Short-Term Rental Enforcement Fund

Overview of the Short-Term Rental Enforcement Fund program:

Launched in 2024, the STREF addresses the growing concern that short-term rentals are reducing the supply of long-term housing in Canada. By offering financial support, the program assists municipalities and Indigenous communities in enforcing existing strict regulatory regimes on short-term rentals. Eligible applicants must have regulations that include, at a minimum: A principal residence requirement limiting short-term rentals to primary residences. A licensing system for short-term rental operators. An enforcement and compliance program for their short-term rental regulations. Additionally, applicants should have at least one of the following regulations: A licensing/registration process requiring proof of consent from condo corporations or property owners. Spatial rules, quotas, or moratoriums to restrict short-term rentals. The program's goal is to support enforcement activities that ensure compliance with these regulations, thereby returning units to the long-term housing market.

Benefits of the Short-Term Rental Enforcement Fund program:

• Enhanced Enforcement: Provides financial resources to effectively enforce short-term rental regulations.
• Increased Housing Availability: Aims to return units to the long-term housing market.
• Support for Communities: Assists municipalities and Indigenous communities in addressing housing shortages exacerbated by non-compliant short-term rentals.

Eligibility criteria of the Short-Term Rental Enforcement Fund program:

• Eligible Applicants: Municipalities (including upper-tier municipalities) and Indigenous communities in Canada.
• Regulatory Requirements: Must have existing strict short-term rental regulations, including:
• Principal residence requirements.
• Licensing systems for operators.
• Enforcement and compliance programs.
• At least one additional regulation such as consent requirements or spatial restrictions.