Strata and AirBnB

@Excalibur1 this might not be quite correct, as the OC and Strata Committee have some avenues to restrict these actions in NSW in relation to the "use" of the lots, and any OC would be well advised to implement a Special By-law in relation to this.

Furthermore, they also have the ability to restrict access to the building, which should be considered a business risk by any strata residents considering a short term letting of their lot(s).

 

One of the blocks I have a flat in added a By-law at a meeting last week to prevent short term rentals. As far as I know, I was the only owner who had a go at it in that block. I did it for a couple of years with a minimum stay of one month, but found the additional income wasn't worth the effort. I was happy for the owner occupiers to add the By-law.

 

@Ted Varrick yes I noticed a lot of OC's are putting a statement out there that short term letting is not allowed.

How does this impact apartments that are half serviced and half long term? it would be a bit harder to police I suppose.

@Depreciator what annoyed me is that they were tying to restrict even 3 months minimum. I thought that was too much.

I did get a long term tenant for my place.

 

I suppose it depends on how much backbone your strata committee has.

And I'm sure the neighbours of your strata IP are pleased that you have a long term tenant, so they don't have to suffer the consequences of the "occasional" bad choice of holiday tenant residing in your lot, when you are not onsite.

If you are onsite, of course, and also have to partake in the "shared" experience, then bylaws restricting short term letting would be a lot less necessary...

 

New Airbnb laws shelved after backbench revolt

Not sure if anyone was nervously awaiting what was going to happen with this. So glad they're putting this off for another year or so. Capping it to 180 days would be disaster for most of us and I've only ever had one stay for more than a couple of weeks. As some who has only done this for less than a year I would be only just breaking even taking into account what I could have got with long term and furnishing cost. I can't see how anyone can get their calendars filled when it's capped like this.

 

Ahh well, more wait...
I was in a high rise building in Sydney over the weekend. I saw that apartment was being advertised so I thought i would check it out. In the lobby Body Corporate (strata) wrote a one page on how it is illegal to do aibnb in the building and that they will prosecute and get council to prosecute and that the full cost will be on the host.

I know this is to scare people off, even if it might not be true. I also looked on the app and noticed 6 apartments in that building on AirBnB with a lot of reviews each. Meaning they have been doing it for long time......

 

I'd cope but my yields would be shot.

 

The backbencher revolt has been resolved. See thread :
NSW Laws Just Announced - Airbnb killer in Sydney