There’s little doubt short-term lets are taking residential rentals out of the market – but do our laws make it too tempting for investors to make the switch?
A couple of weeks ago I wrote in this column that because Australia has some of the lightest-touch, short-term, holiday-rental laws in the world that it contributes significantly to theAFR reader Jill Saunders from Tasmania doesn’t dispute that Airbnb and its ilk take properties out of the residential rental market, but she feels that current laws excessively favour tenants over landlords, making the decision to move to holiday rentals too easy for many property owners.
However, she claims, “the one thing that is never mentioned, or considered in these arguments, is the risk the landlords are taking in long-term rentals”.Jill says the problems lie with rogue tenants, the challenges of getting rid of them, and the difficulties in getting compensation for damage to the property.
Various states are moving to give tenants more certainty by making it harder for owners to jack up rents and evict them on a whim.But some would say these moves are partially redressing an imbalance that has existed for decades.
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