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New regulations for holiday rentals

Owners of short-term rental accommodation in NSW have been put on notice that new regulations take effect next month.

A spokesman for the Real Estate Industry of NSW (REINSW) said that the Department of Planning, Industry and Environment (DPIE) is ‘standing firm on the deadline’ of March 1, 2022, which is part of a new state-wide regulatory framework to overhaul the growing sector.

As part of the new regulations, since 1 November 2021 anyone wishing to lease their property for short-term rental accommodation (STRA) must be registered with NSW Fair Trading. A mandatory Code of Conduct for all participants has also been implemented.

Already some 33,424 properties have joined the STRA register in NSW. The new rules don’t apply to caravans, tents or moveable dwellings.

The new code of conduct aims to address concerns of inconsiderate or anti-social behaviour from short-term tenants. It applies to booking platforms, hosts, letting agents and facilitators.

Under the changes, NSW Fair Trading can take disciplinary action such as a monetary penalty or a ‘strike’ against a property, host or guest, for serious breaches.

It may also list non-compliant participants on an Exclusions Register, effectively stopping them from taking future bookings. Owner corporations can now also adopt by-laws restricting types of short-term rental accommodation within its strata scheme.

All dwellings must comply with fire and safety regulations, including the installation of smoke alarms powered by mains electricity or non-removable batteries with a minimum life of 10 years.

About Adam Nobel

Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 20 years experience in property investment, and 14 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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