In June 2019, legislation was passed changing the way properties could be rented on a short-term basis. The law was changed due to the large numbers of properties in Rent Pressure Zones, only available through sites such as Airbnb, having an adverse effect on the overall rental market. The objective was to increase the supply of rental properties to the long-term rental market.
Madden Property Consultants have worked with many landlords to transfer their properties from short term to long term rentals. By selecting reliable, trustworthy tenants, landlords are finding that long term rentals are a much more profitable and risk-free method of achieving consistent yield on their properties.
Call our office today and speak a member of our team to discuss.