Thinking of short-term rental instead of the usual yearly renewals like today? Well, the first thing will be to make sure that the place you bought for AirBnB allows AirBnB in the first place. Else, the owner who rented out his place under AirBnB could be fined even up to RM200 if they are caught flouting the management by-laws.
Here’s what Md Azmi Mohd Shari, a legal officer from DBKL’s valuation and property management department explained. He said based on a circular from the urban wellbeing, housing and local government ministry states that in the case of strata properties, a management body’s by-laws will determine whether units in a building can be rented out via Airbnb. “Residents have to check their apartment or condominium by-laws. If the management allows it then it’s ok, if they don’t, then residents should abide by the relevant by-law on the matter. If the building’s by-laws does not allow it, then residents who are aware of neighbours flouting the by-laws, should lodge a complaint with the management.” Here’s that article in FreeMalaysiaToday.com
As for AirBnB in Malaysia, it is growing by 99% as at July 2018. This is fastest in Southeast Asia for the platform. (Clap Clap Clap. This means two things. Supply is growing fast but demand is also coming in very strongly. No wonder Malaysia welcomes over 24 million visitors every year) Article in Edgeprop.my here. Airbnb’s head of public policy in Southeast Asia Mich Goh said “There are now 44,000 listings in Malaysia on Airbnb, marking an an almost 60% y-o-y increase, while senior hosts has grew close to 52% y-o-y. At the same time, seniors also make up the fastest growing age group of guests in Malaysia with 85% y-o-y growth.” Earlier report here about how seniors are earning from AirBnB. The top five inbound markets for overseas guests are Singapore, China, US, Indonesia and Australia. For reference, here’s that article from EdgeProp.my
Happy joining the AirBnB venture yeah if you have extra rooms or even homes.
written on 26th Nov 2018
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