The council wants thousands of short-stay rentals flipped into the long-term rental market – and it’s looking to introduce a 180-night cap and an annual fee to get it done.
support for restricting short-stays – said the preferred form of regulation may be a $350 annual registration fee and a 180-night cap.“We’ve had more than 10,000 hotel rooms come online in the last few years and still another 1200 or so in construction at the moment. So impacting the tourism industry is not the same sort of consideration for us as it is in regional and rural areas,” she said.
“These costs include rising housing costs, less-reliable payment of city taxes compared to hotels, negative impact on employment, and a worsening of the affordable housing crisis,” it reads. Melbourne’s Lord Mayor Sally Capp says tourists can use the plethora of new hotel rooms opening up in Melbourne instead of Airbnb.Data included in the report from analytics firm airDNA states that as of February this year there were 4100 active short-term rental listings in the City of Melbourne, but open-source websiteStill, the data the council is relying on shows there are about half as many Airbnbs in the city compared with the pre-pandemic period.
The airDNA data says that 14 per cent of the February Airbnb listings were professionally managed and the average nightly rate for listings was $245 a night. About 88 per cent of the short-term rentals were one or two bedrooms, with 25 per cent rented out for 180 days or more annually. According to the council report, rentals make up 60 per cent of available accommodation in the municipality, which takes in the CBD, Southbank, Carlton, West and North Melbourne. The current rental vacancy is 0.8 per cent, which is says is “well below a healthy vacancy rate of 3 per cent –significantly limiting affordable housing options for the city’s key workers”.
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