After the Parliamentary Inquiry, what is the
current state of play?
Last October, in the wake of the NSW Parliamentary Inquiry, the Assembly Committee made a number of recommendations which are outlined in the ‘Short-Term Holiday Letting Options Paper’.
The Committee has since invited feedback on this paper and received around 8,000 submissions!
HLO, in conjunction with HRIA, responded to this options paper and is actively working to get acceptance and support for the proposed strategies. You can read the HLO-HRIA response here. There is some indication that many of the submissions tendered reflect similar objectives.
The next step is for the relevant Departments to brief their Ministers on possible strategies and options, which will eventually form the basis of some regulations. This is after analysing all of the submissions and speaking with many of the groups and companies who made submissions.
All in all, I am optimistic we will end up with a sensible approach which allows the industry to be largely self-regulatory. However, it is unclear when we will know the full outcome, it’s likely to be early-mid-2018.
John Gudgeon. December 2017.