Short term letting has a place in the economy, but without the appropriate regulatory framework, locals, particularly young renters, risk being priced out of their neighbourhoods and replaced with transient holiday makers.

The government’s draft planning instruments, regulations and Code of Conduct currently on exhibition are grossly inadequate and fail to deliver even the weak promises made last year to regulate the short term letting industry. A new loophole around the 180-day year rule excludes short term letting over 21 days from the cap. The Code of Conduct that we were told would help ‘crack down’ on party houses, has no mechanism to stop a premise from being repeatedly used for parties.

Add these concerns to a lack of oversight, enforcement, strategic planning and owners’ corporation rights and we have a recipe for carte blanche holiday letting including in high rise apartment buildings. With examples of long term residents disappearing from cities like Paris, Venice, Florence and Barcelona our government should prevent the destruction of residential communities and neighbourhoods.

I encourage you to comment on the discussion paper. The discussion paper and associated documents: HERE. Submissions are due Wednesday 11 September.

The Owners Corporation Network has a guide to help with submissions:  HERE