This Christmas might be the last one before new short-term letting rules apply.
The NSW Government has announced its policy on short-term lettings and has asked for feedback from the public and industry participants by 16 November 2018.
The new Policy involves amendments to the Fair Trading Act to establish a code of conduct for participants in the short-term rental accommodation industry. The proposed code of conduct applies to all occupants of residential premises for 3 months or less and applies to all participants in that industry including Airbnb and the like, hosts of residential premises and people who book short-term accommodation. A breach of the code of conduct by any participants will be an offence and a fine can apply.
The Strata Schemes Management Act is also going to be amended to allow an owners corporation with a 75% majority to make by-laws prohibiting short-term rental accommodation where the lot in question is not the lot owners’ principal place of residence.
We await the details of the Code of Conduct.