Rate Hike Set To Hit Brisbane Short-Stay Properties Amid Escalating Rental Crisis

Property owners across Brisbane who rent out their homes or apartments as short-term accommodation have been warned:  return your home to the long-term rental market or face a 50 per cent rates hike.

Brisbane Lord Mayor Adrian Schrinner made the announcement on Wednesday, before handing down the LNP administration's $4 billion budget.

It comes amid the rising cost of living pressures and a shortage of available rental properties.

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Cr Schrinner said it “is their choice”, if owners list entire properties for overnight stays, they will effectively be slugged a significant increase to their rates bill.

“Right now the priority is renters,” he said.

"What we see is renters are being affected with rents going up significantly, and then those that are wanting to get a rental property are having real difficulty at the moment getting access to anything

"If owners had these properties in the market for short-term, overnight stays – that is their choice, but what they'll be facing now is a 50 per cent increase in their rates," the Lord Mayor said.

"We don't want anyone to pay that, we want them to put those properties back into the rental market for long-term use."

“We will be encouraging members of the public to let us know if a property is used for short-term rental purposes,” Schrinner said. “I know some owners will not like this approach.”

AirDNA – a short-term accommodation data analysis company, estimates around 3,600 homes are currently listed on short-stay accommodation platforms like Airbnb across the greater Brisbane area.

The rate increase will not impact owners that rent out individual rooms, granny flats or shared accommodation.

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