Airbnb style short-term holiday letting has skyrocketed in popularity over recent years. However, it’s fair to say, not everyone is happy about it. Local communities the world over have been impacted by the knock-on effect of a shortage in long-term rentals and an increase in noise in quiet residential neighbourhoods.
Because of growing concerns in many communities, the New South Wales government has announced a new rental cap restriction of 180-days across the state, which comes into effect on 1 November this year. Here in Byron Shire, the Council has gone one step further. They’ve asked to limit short-term lets to 90-days because of the high number of holiday properties available in our town.
While short-term rentals can be far more lucrative for a property owner than a long-term let, Airbnb style letting has had a devastating effect on the local rental market. More and more people have been forced to leave our community because they can’t find anywhere to live. And many local residents are affected by noisy holiday rentals.
On the flipside, short-term rentals have contributed enormously to the millions of dollars tourism brought into the local economy last year. And that’s not just about money spent in Byron Bay but the jobs that tourism creates in our community.
Some say the 90-day limit will have no positive effect on the community because property owners will just rent out their short-term accommodation during peak holiday times. That said, Council has been asked to submit a detailed economic impact assessment to the Department of Planning, Industry and Environment, outlining the effect the 90-day cap will have on hosts and operators.
As part of this investigation, we’ll be asked to have our say as a community, so if you want to give your feedback, make sure you get involved and voice your views. In the meantime, I’ll keep you posted on developments as and when they happen.
Watch this space!
All the best