Short-term rentals (STRs) are more than just convenient accommodations for travelers—they play a pivotal role in boosting Calgary’s local economy. From generating income for homeowners to supporting small businesses, STRs have become an integral part of the city’s economic fabric.
This article explores how STRs contribute to Calgary’s economy, answers frequently asked questions, and addresses common concerns about their impact.
Economic Contributions of Short-Term Rentals in Calgary
- Direct Revenue for Property Owners
STRs provide a valuable income stream for Calgary residents who rent out their properties. For many, this supplemental income helps offset mortgage costs, property taxes, and maintenance expenses. - Tourism Boost
STRs offer affordable and diverse accommodation options, attracting a wide range of travelers. This accessibility increases tourism in Calgary, particularly for large events like the Calgary Stampede or local festivals. - Support for Local Businesses
Guests staying in STRs often dine at local restaurants, shop at neighborhood stores, and use local services such as car rentals or tour operators. The influx of tourists provides a consistent revenue stream for small and medium-sized businesses in the city. - Job Creation
The STR industry creates jobs in property management, cleaning services, maintenance, and more. Platforms like Airbnb also indirectly support roles in photography, marketing, and customer service. - Tax Revenue for the City
With regulations in place, many STRs contribute to local tax revenue through municipal licensing fees and lodging taxes. These funds can be reinvested in community infrastructure and public services.
Questions People Might Ask About STRs and Local Economies
Q: How do short-term rentals benefit Calgary’s tourism industry?
A: STRs make Calgary a more appealing destination by offering travelers unique and cost-effective alternatives to hotels. These rentals provide the flexibility and comfort families, corporate travelers, and tourists seek, encouraging longer stays and repeat visits.
Q: Do short-term rentals harm long-term housing availability?
A: While this is a common concern, regulated STRs can coexist with long-term housing. In Calgary, policies that require licensing and proof of consent aim to ensure STRs don’t detract from the rental housing market. Additionally, many STRs are secondary properties or homes used part-time by their owners, meaning they don’t directly compete with long-term rentals.
Q: How do short-term rentals compare to hotels in terms of economic impact?
A: Unlike large hotel chains, STR income is more likely to stay within the local economy. Homeowners spend their earnings in the community, and guests are more likely to patronize small, local businesses near their rental.
Q: Do short-term rentals create jobs in Calgary?
A: Yes, STRs contribute to job creation in several areas, including property management, housekeeping, maintenance, and landscaping. Many owners also hire professional services like STR managers, photographers, and digital marketers, further supporting the local workforce.
Balancing the Benefits and Challenges
While STRs significantly contribute to the local economy, it’s essential to balance their benefits with community concerns. Policies such as Calgary’s licensing requirements, fire safety compliance, and zoning regulations help ensure STRs operate responsibly while maximizing their positive impact.
How Premier Stays Supports Calgary’s Local Economy
As a professional STR management company, Premier Stays plays a vital role in Calgary’s economic ecosystem:
- Empowering Property Owners: We help homeowners maximize their income through effective management strategies.
- Partnering with Local Businesses: Premier Stays collaborates with Calgary-based cleaning services, suppliers, and contractors to ensure our properties are maintained to the highest standards.
- Supporting Tourism Growth: By offering high-quality accommodations, we contribute to Calgary’s reputation as a desirable travel destination.
Conclusion
Short-term rentals in Calgary aren’t just about hospitality—they’re an economic engine fueling local businesses, creating jobs, and attracting tourists. With proper regulation and management, STRs can continue to benefit Calgary’s economy while addressing community concerns.