Short-term letting in Sydney
Short-term letting (such as Airbnb) can be a positive experience for tourists and residents, while supporting the local economy. But if it occurs too often, and in the absence of a resident, it can become a de-facto commercial business that may impact neighbours. It's a complex issue.
Community concerns have been raised with the City about the impacts of short term letting in strata buildings where residents have shared facilities and neighbours are close. We engaged Woolcott Research in March 2017 to survey strata owners, occupiers and investors across the neighbourhoods in our area to help us better understand the issue. 1001 strata residents and investors were interviewed: 56% were tenants, 38% were owner occupiers and 8% investors.
The survey responses indicated that 15% of residents have let out a room and 50% of residents have used short-term letting as a visitor elsewhere. One third of residents believed short-term letting is happening in their building.
The majority of respondents supported short-term letting in a residents' own home while they are on holidays. However, the majority opposed it when used as a full-time investment in another property.
The survey responses indicated younger people under 35 are far more likely to support and use platforms such as Airbnb than older people, over 55.
Short-term letting in strata apartments was a significant issue for 1 in 6 respondents (16%) and a moderate issue for 1 in 5 respondents (21%). It ranked lower in concern than other strata living issues such as building defects, maintenance, and parking.
64% of respondents supported strata committees having more power to manage impacts such as anti-social behaviour. Respondents were evenly split as to whether strata committees should be able to ban short-term letting in their buildings (42% agreed, 40% disagreed).