Noosa property owners could find themselves banned from renting out their holiday homes and the value of their investment significantly impacted if a local council plan is implemented, according to a local agent.
Under a draft planning scheme called the New Noosa Plan, the local council would restrict short-term letting to zoned areas, effectively banning any holiday letting outside of those areas.
Suburbs affected would include Noosa Waters, Sunrise Beach, Peregian Beach and the centre of Noosa behind Noosa Junction, encompassing hundreds of investment properties that are currently rented out for short-term or holiday use through real estate agencies or platforms such as Airbnb and Stayz.
Properties that fall within the zones allowed to continue holiday letting would have to comply with codes, such as providing a certain amount of car parking.
Houses would have to provide two on-site car parks, while apartments over 90 square metres would have to provide two car parks.
Outside of the zoned areas, only those properties that have been holiday letting since before 2006 would be allowed to continue.
Those that have been holiday let after 2006 would have to make an application to be allowed to continue.
The Noosa Shire Council prepared the draft in response to complaints arising from the sharp growth of the short-term online rental market in the Noosa shire, but according to local agent Dan Neylan of Dowling & Neylan, those few complaints could cost Noosa investors a lot of money.
Do you need a property loan?
Contact us @ firstname.lastname@example.org and we will arrange for a lending specialist to contact you shortly.
Wednesday, 12 June 2019