While people are struggling to find an affordable home, thousands of homes on Airbnb are sitting empty most of the week.
Short stay accommodation is almost entirely unregulated in Victoria, and it’s making the rental crisis worse.
Investment properties are being turned into mini hotels while families can’t find a rental home to live in.
Short-stay regulations – such as capping the number of days a property can be listed as a short stay – will help encourage people who are making profits off their second, third and fourth homes to make their properties available to renters.
Cities around the world like New York, London, and Berlin regulate their short-stay market. It’s time for us to do the same.