Monthly short-term rental news roundup – December 2018
This month in short-term rental news – More parties, more crime, more laws. Here’s the scoop:
- More Melbourne crime courtesy of short-term rentals this month, including another out-of-control party (this time with neighbours being mugged) and home invasions in apartment blocks. Police have even set up a rapid response force just for short-term rental parties.
- Maybe Melbourne should pay more attention to what’s happening overseas. Los Angeles is banning short-term rentals in investment properties, and is slapping a 120-day cap on primary residences too. Las Vegas is banning any new rentals where the host isn’t present overnight.
- A study of LA property shows regulating short-term rentals does push down rents and property values. Tighter regulations push investors back to less-profitable long-term rentals.\
- In case you missed it, we were recently on the Your Strata Property podcast talking tips for getting rid of short-term rentals and what good regulation looks like. Check it out here: https://www.yourstrataproperty.com.au/the-technology-that-protects-your-building-from-short-term-letting/