Short Term Rentals
29 November 2016
If regulated properly, short term letting can provide a great experience for visitors and hosts without impacting on neighbours and other owners. But if not done right, short term letting can create problems, particularly in strata buildings, like increased insurance costs from change of use, security risks from transient neighbours, intrusive noise from visitors in holiday/party mode and loss of a sense of community. The proliferation of short term letting can also reduce housing affordability as homes get converted to hotels.
Last week I met with the Minister for Innovation and Better Regulation and argued that where hosts do not stay with visitors, they must get permission from owner corporations to let their apartment on a short term basis. Restrictions to limit the number of days a home can be offered for let on a short term basis will be difficult to enforce and fail to address cumulative impacts.
The government is yet to establish its position, however the minister expressed a preference for additional safeguards in apartments over giving owner corporations the right to refuse short term lets. I will continue to work to ensure owner corporations have a say in the management of their buildings.