Airbnb hosts in New South Wales to face nuisance tax

Airbnb hosts in New South Wales to face nuisance tax
Airbnb hosts in New South Wales to face nuisance tax

Apartment owners in New South Wales who let out their apartments or even their spare rooms on sites such as Airbnb and Stayz may have to pay compensation to their neighbours.

The compensation targets "party houses" to reduce noise.

A plan before the state government also suggests the owners pay extra strata funds in an attempt to regulate the thriving short let market.

Sydney holds 17,000 of the 40,000 airbnb listings in New South Wales.

The state government is considering limiting the number of days a property can be let out without needing a development application.

Planning Minister Anthony Roberts told the Daily Telegraph it was a complex issue.

“We believe by engaging with those most affected we can achieve the right balance of what level of regulation is required to best meet the needs of the community," he said.

Airbnb’s Brent Thomas said the company injected “half a billion dollars” into the state’s economy and created more than 4400 jobs.

“The current rules for home sharing in NSW are confusing, complex and were written before the internet existed,” he said.

Director of government affairs Jordan Condo said the NSW Government must not forget that short-term rental accommodation injected $2.1 billion into the economy last year.

He said much of the $2.1 billion was injected in regional New South Wales.

According to the news.com.au the average Airbnb host in New South Wales earns $4,400 a year sharing their home.

The options paper will be open to public consultation for three months while the government decides what to do with the industry estimated to be worth $31 billion nationally.

 

 

 

 

 

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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