What is Phase 2 Real Estate in Whistler, B.C.?

What does Phase 2 mean? or What is Phase 2 ownership in Whistler?

Phase 2 properties in Whistler allow owners 56 days of personal use a year. ( 28 days in the winter & 28 days in the summer ) The rest of time the unit is available for nightly rental and generating rental revenue for the owner! These differ from 1/4 share or Timeshare units as you are the owner in Fee Simple but there is a restrictive covenant on title requiring the unit to be available for short term rentals when the owners aren't using.

Why is there Phase 2 ownership in Whistler?

When Whistler was being designed, the city planners and local council looked at what was working and what wasn't working at some of the other mountain resorts south of the border. What they found was, absentee owners that were buying in the high density areas were negatively affecting the local economy. If privately owned units have high vacancy rates, then there is nobody to eat in the restaurants and shop in the local stores, etc. To avoid this issue in Whistler, the municipality of Whistler decided to implement the Phase 2 covenant in some of the high density areas in Whistler Village.