Property Buzz

Daily Buzz: Wednesday, 10 April

PropertyBuzz, your daily dose of property news.

Melbourne agency director could cop a lifetime industry ban, Airbnb Unveils local council toolkit, and why Australia’s Rental Application System is not working.

Welcome to Property Buzz! I’m Grace Ormsby
Today is Wednesday, 10 April.

A Springvale agent is accused of misusing rental bond money, which could lead to his disqualification from holding a real estate license.
– Consumer Affairs Victoria alleges the agency director failed to meet conduct and trust account management requirements, including not paying property owners rent payments received from renters.
– The consumer watchdog is aiming to permanently disqualify the director from holding an agent’s license, with a hearing scheduled for 16 April.

And Airbnb has announced plans to collaborate with local councils in Australia, offering them a new information resource called the “City Portal”.
– The Portal, already in use in several US cities, provides local governments with data on Airbnb listings, guest numbers, and average spending in their area.
– All Australian councils will have access to the City Portal on an opt-in basis, and can request a webpage on Airbnb listing local and state regulatory and tax requirements.
– The move is part of Airbnb’s efforts to work with governments to balance the benefits of home sharing with community needs, and follows regulatory challenges in several Australian regions.

– A business owner has criticized Australia’s rental application process as complex and difficult to navigate due to the lack of a centralized online portal.
– Wendy Eva-Scott, of Your home Hunter, said major online systems are designed for agencies’ convenience, not tenants, making the application process time-consuming and confusing for renters.
– A survey found two-thirds of renters are uncomfortable with the extensive personal and financial information required for applications.
– She also said many renters are unaware of unspoken requirements, such as rent being no more than one-third of net income, leading to wasted time on applications unlikely to be approved.

That’s Property Buzz for today.

See you again tomorrow, 11 April, for your daily dose.

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