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You will need to do some research before renting out your property on the short term as it is not a good option everywhere.

Local councils can restrict short-term holiday letting and by-laws can hold changing the use of a lot, by a minimum of 21 days.

If short term letting is possible in your area, it is vital that you insist on strict rules for any potential renters.

Here are some RealRenta tips to help you navigate the world of Airbnb and short term holiday letting:

• Look into the financials- will the returns be worth your effort?
• Have very clear rules about House parties and overcrowding
• Enforce a maximum of 2 people per bedroom
• Take photo ID of guests
• Take credit card details of guests to take out the bond
• Make sure you have the appropriate landlord’s insurance
• Ensure that there is someone that can be contacted by building/strata managers to solve issue if you are not reachable
• Evict guests that do not follow the rules

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