Waterscapes is one of only 25 addresses in Kelowna where short term rental is allowed as a principal use. That means you can own a unit here and rent it nightly without living in it. Everywhere else in the city still carries the principal residence requirement.
Inside the Waterscapes
Images courtesy of Kelowna Resort Accommodations, the on-site rental operator
Active listings at Waterscapes
2 units from $389,000 to $479,000 · snapshot as of October 4, 2026. Availability and price change daily, so confirm before relying on this.
| Unit | Beds | Baths | Sq ft | Price | Listing |
|---|---|---|---|---|---|
| 211 | 2 | 2 | 852 | $479,000 | MLS 10402457 |
| 218 | 1 | 1 | 698 | $389,000 | MLS 10389663 |
Get the real numbers on Waterscapes
The listing price tells you almost nothing. What matters is what a unit in this building actually grosses, what it costs to run, and what comparable units have sold for.
- Full pro forma: realistic nightly rate, occupancy, gross and net, cash on cash return
- The three most recent comparable sales in this building
- Strata fees, what they include, and the rental and pet restrictions
- Furnishing and setup budget, and the licence and registration steps in order
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Common questions about Waterscapes
Can you short term rental at Waterscapes?
Yes. Waterscapes at 1075 - 1139 Sunset Dr is on the City of Kelowna's list of properties zoned for short term rental as a principal use, effective June 1, 2026. Verified October 22, 2026. You still need a City business licence, provincial registration, and signed strata consent.
Do you have to live in your unit at Waterscapes?
No. The principal residence requirement does not apply to Waterscapes. That is what makes it one of only 25 addresses in Kelowna where you can own a unit purely as a nightly rental.
What does it cost to licence a short term rental at Waterscapes?
A City of Kelowna short term rental business licence is $345 per year plus a $50 application fee. Applications take two to four weeks. Provincial registration is separate.
Can the strata at Waterscapes still ban short term rentals?
Yes. City zoning and strata bylaws are separate. Kelowna will not issue a licence without a signed strata consent form, and a strata can restrict nightly rental in its own bylaws. Always read the bylaws and minutes before removing subjects.
Want to walk through this building with me?
I own and operate short term rentals myself, in Kelowna and in Vancouver. I am not guessing at these numbers. Book a short call and I will tell you straight whether this building fits what you are trying to do, or whether another one of the 25 fits better.