EDITOR'S COMMENT
• The ever-shifting short-term rental regulatory landscape has dominated our editorial comments lately, and the Penang State Government's hostile stance towards the segment once again exemplifies how communication between regulators and STR advocates must improve to ensure the introduction of proportionate legislation.
Three months after implementing a partial ban on STR operations on the island, the State Government has ruled that all private residential properties will be banned from listing on booking platforms like Airbnb, while hosts will also need to register with the Malaysian government and obtain licences to be fully compliant with standards. The rules were originally due to come into effect next March but will now be enforced with immediate effect.
At first sight, the stance appears somewhat drastic and hasty, leaving local hosts, property managers and organisations with little time to consult, debate or even appeal against the ruling. There are fears that this could potentially pave the way for the enforcement of nationwide regulations in Malaysia in the near future.
On one hand, Penang regulators says that short-term rentals contribute to neighbour complaints and anti-social behaviour, as well as a shortage of housing supply for islanders. On the other hand, Airbnb believes the government's stance will have a detrimental effect on Malaysia's tourism sector, both in terms of hosting opportunities and accommodation choice.
As is often the case, the solution most likely rests with a compromise on both sides. It would be unwise for Penang to cast away a segment that has propped up much of its economy for years, and while STR advocates and booking platforms are in favour of proportionate regulations, they must also work to enhance public perception, lay out the benefits that rentals offer, and dispel some myths that overshadow the sector at times.
You can expect plenty more analysis on this subject both in our 19 September webinar on Leading on advocacy round table: Why your industry needs you and at our inaugural
STRz Summit in London on Wednesday 18 October, when Fiona Campbell [ASSC], Dr Amaryllis Verhoeven [European Commission] and Steve Lowy [ASAP] will explore 'Creating smarter regulation for everyone'. Book your tickets now at this link.
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