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Kelowna city council Tuesday nixed a proposal to open up the short-term rental market to secondary suites, basement suites and carriage houses.
The main reason, protecting the long-term rental stock and trying to stem the tide of skyrocketing rental and purchase prices.
Mayor Colin Basran cited two studies that show the cost of renting and purchasing homes rose in areas where short-term rentals were introduced.
Short-term rentals will still be allowed in many areas of the city in homeowners principle residences.
