New rules on short-term letting will come into effect for the residence of Ireland from 1st June 2019 help bring properties back on to the long term rental market.
From the start of June the new regulation will have the following effects for hosts in areas deemed to have high housing demand:
- No letting of second properties on short-term lets
- Homeowners will be allowed to rent their property for a maximum of 90-days per calendar year similar to London.
- Homeowners can only rent their place out for a maximum of 14 consecutive days.
- Hosts will now need to register properties with their local authority.
- Properties can be rented out for longer with planning permission from the local authority.
Airbnb believes the new rules and regulations will have a huge impact on tourism and will be difficult to enforce.
It’s unclear as of yet what the potential fines might be, but it’s likely the first few fines will make examples of professional landlords creating an unsustainable market.
Ireland is the only location attempting to curb the rise of Airbnb properties, back in 2016 Amsterdam implemented a 60-day rule and Vancouver’s new rules saw Airbnb listing drop rapidly from over six thousand to just below four thousand listings.