The statewide policy for homeowner holiday rentals has been finalised, giving the industry four months to implement the new changes.
The Department of Planning, Industry and Environment's Deputy Secretary of Planning and Assessment Marcus Ray said the final Short-Term Rental Accommodation (STRA) policy will benefit homeowners looking to rent out their homes for extra money while providing more certainty and safety for locals and visitors.
"This new framework follows extensive consultation with the community and the holiday-letting industry and we're proud to finally have a clear set of rules that support the $30 billion a year industry while protecting the rights of hosts, guests and neighbours," Mr Ray said.
"This framework includes limits on the number of days' properties can be rented out in certain circumstances, new fire safety standards, a government-run register, mandatory Code of Conduct and an exclusion register to ensure properties are up to scratch.
"The sector has suffered significantly during the pandemic but our whole-of-government approach will help get businesses and homeowners back on their feet."
The final STRA policy includes:
- A cap of 180 days for homes across Greater Sydney, and parts of coastal and regional NSW, where the owner lives elsewhere;
- Hosted STRA homeowners being able to rent their homes out 365 days of the year;
- Minimum fire safety standards; and
- A Code of Conduct for hosts, guests, online booking platforms and agents.
The Department received more than 2000 submissions in response to the initial framework and since has been working with councils, the industry and working across government to resolve the complex issues that were raised.
The policy comes into effect on 30 July 2021 to give businesses and homeowners time to understand their requirements.
