Consumer News

Short-term holiday letting reform

10 November 2017

By Tim McKibbin- REINSW CEO

The NSW Government recently released an options paper inviting holiday and short-term rental stakeholders to comment on an appropriate regulatory framework for the sector.
We responded with a submission that takes into account everyone’s concerns. These included the rights of neighbours to enjoy where they live without having to tolerate excessive noise, bad behaviour, concerns about security, etc.

We believe property owners need to be able to take a bond at the time of booking in case of damage caused by the tenant. Also, best practice dictates that owners should take out landlords insurance as a further protection. 

If the property is not managed by an agent, the responsible person should complete a short compulsory course before they can offer their property to the market.
Clearly it is critical that the needs, interests and concerns of all stakeholders are represented and accommodated in this evolving area of the property industry.