If you’re looking to settle down in Australia, a Short term rentals accommodation Sydney home may be the right option. Unlike buying a home, renting a property allows you to experience the Australian lifestyle and get a feel for the local community. Plus, it’s a great way to avoid the financial commitment of buying a property. But there are some things to consider before signing up for a lease.
In the midst of this housing crisis, some towns are looking to regulate short-term rentals, but the benefits are still unclear. While short-term rentals make a small proportion of the Australian property market, they are growing in popularity as tourists seek accommodation options. For example, in Shoalhaven, more than 80% of properties are owned by people from outside the region. While the short-term rental industry has become a huge business for the town, the local government says the benefits outweigh the drawbacks.
Choosing the right short-term rental can be difficult
While the city’s residential districts are mostly affordable, the costliest rental properties are located in the Inner suburbs. However, for those who are traveling on business, the best option is to stay short-term rental Sydney. A furnished apartment will allow you to concentrate on your work while enjoying the Sydney sun. You can also take a swim in the beautiful beaches while in Sydney.
The NSW government is reviewing the short-term rental regulations for short-term rentals. The government wants to regulate short-term rentals by introducing a registry of such homes. It’s considering a cap of 180 days a year in greater Sydney. This cap would have to be implemented by regional councils, and the appetite for a cap is not universal. Recently, the government has approved a request for a 90-day cap in Byron Bay. However, the rental shortage has become so severe that renters in Byron Bay are battling the rental shortage. There were 43 long-term residential rental homes for lease in the Byron region. Meanwhile, 2,013 entire home rentals are listed on short-term accommodation websites.
However, despite the growing popularity of short-term rentals, there are a number of considerations before committing to this venture. While Airbnb-style short-term rentals are legal in NSW, there are a number of risks involved. For example, the renters must be careful to not damage the property. There are strict rules for tenants, and the host should be aware of them. The NSW government has also announced the introduction of a new statewide planning instrument, the New South Wales Government, who will soon be making changes in the short-term rental market.
In Sydney, short-term lettings can be illegal if the property is owned by an investor. Depending on the rules of your area, the limit is 180 days in a single year in the Greater Sydney Region. Owners Corporations can prohibit short-term lettings for investors in Sydney, but this ban does not apply to owner-occupiers renting their rooms. This legislation is intended to prevent the misuse of a property and to protect the interests of both the owner-occupiers and the renters.
