The new regulatory framework to govern short-term holiday letting proposed by the NSW government in June has now passed parliament. The new framework is expected to come into effect in 2019.
To recap, the new rules affect Strata corporations, owners and tenants and are designed to “ensure that local communities continue to gain from the economic benefits of short-term holiday letting, while protecting neighbours from anti-social behaviour”. A summary of the rules is as follows:
- Owners corporations may prevent a host from short-term letting their block (on sites like AirBNB and HomeAway) if they do not live in the unit
- Owners and tenants will be able to let out rooms or their units while they go on holidays (regardless of any Strata by-laws)
- There is an 180 night limit on owners and tenants (of both houses and apartments) letting out their property in Greater Sydney, Newcastle and Woolongong. No restriction for the remainder of NSW
- There will be a 2 strike rule, over a period of 2 years, which will result in a 5 year ban from short-term letting sites for 5 years
For more information, see here.