Chris Norton, Peterborough, Victoria
I was reading the article Holiday Letting Policy in [ITALIC]The Echo[/ITALIC] on Wednesday 14 April and was reminded of a possible solution for consideration by our policy makers that I had thought about in recent times.
I have wondered if owners of multiple investment properties could only rent 50 per cent of their property portfolio for short-term / holiday rental and the remaining 50 per cent had to be available for long-term rental if this would help the chronic shortage of home availability that communities, families, and individuals are experiencing across Australia.
There are many individuals who own three, four, or even over 30 investment properties. I imagine if there were legislation in place to ensure 50 per cent of an investor’s property portfolio was available for long-term leases we would see a significant improvement not just for families in need of a home but also a reduction in rental rates, improved housing affordability, and social and economic benefits for many small communities.
Just a thought!