Are you a property investor curious about property investment and the future of short-term rentals in Western Australia, especially with the rise of Airbnb. Overall, property investment has always been a popular choice for Australians to build a long-term source of income. However, with the possibility of a crackdown on short-term rentals in WA, property investors need to consider the risks and rewards of this income stream.
Over the years, property investment has been an excellent way to diversify your income streams, but it’s crucial to research and seek professional advice before making any decisions. With the uncertainty around short-term rentals, property investors should consider other options, such as long-term rentals.
Investing in property is a complex process, and risk assessment is essential. To mitigate these risks, working with an expert conveyancing service like Strand Legal and Conveyancing can help you navigate your investment’s legal considerations, especially if you’re contemplating running your investment property as a family Airbnb business.
When it comes to family business law and property settlement, Strand Legal and Conveyancing is a reputable and experienced team able to provide you with expert advice, including:
“We aim to provide our clients with a stress-free and efficient settlement process. And we pride ourselves on our expertise, attention to detail, and exceptional customer service,” says Kerry.
As Kerry Cable, Strand Legal and Conveyancing’s Business Manager, highlights, the property investors she deals with at settlement express concerns about the impact of a possible government ruling on short-term Airbnb accommodation in Western Australia.
Currently, no laws govern short-term rentals, but the Western Australian government is reportedly considering introducing regulations soon. If these regulations are enacted, investors’ property values and income potential could significantly decrease. For example, if short-term rentals are restricted or banned altogether, investors may find it more challenging to attract tenants and see a decrease in their rental income.
Working with an experienced conveyancing service can help reduce risks associated with property investment. Strand Legal and Conveyancing provide comprehensive advice on all aspects of property and business settlements. With their expertise, property investors can ensure that everything is handled efficiently and with minimal complications or delays.
“Investment in property requires investors to do their due diligence and extensive research, and we help that process by stepping our clients through all the legal and practical considerations involved in a settlement,” says Kerry.
Visit our Settlement Agents and Legal Services page.
Alternatively, Email Kerry Cable or call (08) 9381 0500 today.
(Manjimup satellite office: 42 Rose Street. No walk-ins. By appointment only.)
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