Short shrift for airheads

A lawyer writes:

Just read your article on Airbnb; a narrow minded approach. 

I just returned from a family trip to NYC. We rented an apartment for $450 per night, 2 bedrooms, kitchen, the works. Located in Hell’s Kitchen only one block from Times Square.

This was far cheaper than a shoe box hotel room which could not accommodate my family of five. No parties, no doof doof music, just privacy and comfort.

Where I live my next door neighbour holiday lets his house. Sometimes there are parties but they don’t disturb us.

There are laws in place concerning noise. Leave it be. Airbnb or Stayz will not go away. I’m perplexed how you think a flood of apartments will open in Melbourne. Leave free markets alone.

Have you even used the app?

A Landlord writes:

I would like to say that not all short term rentals create problems.

We have been doing this for 5 years and have never had an issue. We have a maximum of 4 people in our apartment and there has never been a complaint from the neighbours or any damage done to our apartment.

Mostly we get couples from overseas, people in Melbourne for medical treatment or from interstate on business. I find it laughable that we are supposed to protect the big hotel industry-the same people who charge exorbitant rates that few can afford.

We are retired, lost most of our super in the GFC caused by big business, who we now have to feel sorry for, and the income we get from the occasional rental helps us survive. The people who rent from us love the experience of living in a community which gives them a better feel for the city.

I find this is just another example of money and power being concentrated in the hands of the few. Why shouldn’t individuals make some money out of their property? I for one will fight this all the way. No-one can tell me that I can’t use my own property for any purpose I like as long as it is not illegal. 

I also think your expression ‘strata parasites’ is unwarranted.

How interesting this all is.

Quote:  “I find this is just another example of money and power being concentrated in the hands of the few. Why shouldn’t individuals make some money out of their property? I for one will fight this all the way. No-one can tell me that I can’t use my own property for any purpose I like as long as it is not illegal.”

Question:  How big is airbnb’s ‘money and power’ these days, and in how many ‘hands’ does their ‘money’ and ‘power’ rest?

Quote:  “No-one can tell me that I can’t use my own property for any purpose I like as long as it is not illegal.”  

Question:  In our building about 55 sets of ‘mum/dad’ investors (out of 163 residential lots) say the same thing.  So, multiply their demand x 55.  Oh!  Plus the Council says their ‘short-term use’ of their apartments is ‘illegal’…  So now they argue that not even Council has the right to tell them how they can use their apartments.  At exactly what point will someone letting their apartment short-term consider the interests and legal rights of others?

Quote:  Last November the NSW Planning Minister said in State Parliament that in Sydney alone there is a short-fall of 50,000 residential properties.  

Question:  How many residential properties are being short-term let across the Sydney Metropolitan area, and what is this ‘illegal use of residential properties’ – short-term letting – doing by way of distorting the situation for tenants trying to find somewhere decent to live?

Residential = Residential.

If you want to invest in short-term accommodation, might one politely suggest that you put your money in a proper ‘serviced apartment’ complex or buy shares in a hotel?  Ah, but can you ‘negatively gear’/get a tax concession there?

I bet the mortgage provider from whom you’ve borrowed your investment loan doesn’t realise that you’ve got the money in a residential property and are using the property for a non-residential purpose?  

And then there’s the building insurance issue…

Such a big topic!