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August 17, 2023

Short-Term Rentals Not to Blame for Rental Affordability, Says REIQ

by Alices Home
Short-Term Rentals Not to Blame for Rental Affordability, Says REIQ

Short-Term Rentals Not to Blame for Rental Affordability, Says REIQ

Alices Home
August 17, 2023
Short-Term Rentals Not to Blame for Rental Affordability, Says REIQ

Table of Contents

Short-term rental report: Full of hot air findings says REIQ

The Real Estate Institute of Queensland (REIQ) has criticized the state government’s review into the impact of short-term rentals, saying the report is “full of hot air”

The REIQ said the report, which was released on August 11, 2023, concludes that short-term rentals have a limited impact on rental affordability. However, the REIQ said the report does not address the root cause of the rental crisis, which is a lack of supply.

Focus on addressing the supply issue

The REIQ’s CEO, Antonia Mercorella, said the report “cements the fact there is no correlation between the prevalence of short-term rentals and nearby long-term rental affordability”. She said the government should focus on addressing the supply issue, rather than trying to regulate short-term rentals.

Short-term rental register

The REIQ also criticized the government’s proposed short-term rental register, saying it is “pointless” given the report’s findings. The register would require short-term rental operators to register their properties with the government.

The REIQ has long-supported initiatives that would encourage people to bring their holiday homes and vacant properties onto the long-term rental market. The REIQ said these initiatives would be more effective than trying to regulate short-term rentals.

The state government has not yet responded to the REIQ’s criticism.

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