7 October 2021
The NSW Short Term Rental Policy de-regulates housing and residential zoning to accommodate the growth of Airbnb. It makes no distinction between a free-standing home and a high-density apartment community. The commercialisation of strata assets brings with it unpredictable and significant risks and costs for all Owners and increases the burden on Strata Committees and residents. The strata legislation must now address these unresolved policy issues before the rebound in tourism post Covid-19.
This Report discusses the risks and impacts of commercial short-term letting to tourists in residential apartment buildings and strata schemes across NSW. It identifies hidden costs and canvasses options and recommendations to better support strata schemes and address unresolved strata policy issues.