Property
Airbnb: A matter of security
Joseph Wong | 11 May 2018 00:30

ONLINE marketplace and hospitality provider Airbnb has had phenomenal success in recent years, offering access to short-term leasing for vacation properties in 191 countries, and spawning many copycats. However, Airbnb and other similar operators’ way of providing cheap accommodation to holidaymakers has also opened a can of worms.

As a result, many major cities around the world are either considering banning Airbnb – which earned US$2.6 bil in revenue last year – or formulating stringent regulations to control this type of short-term leasing.

“Cities like Paris, Barcelona, Berlin, Amsterdam, London, New York, San Francisco and Santa Monica are restricting or even banning Airbnb now.

“(However), in Malaysia no regulations are yet in place although DBKL (Kuala Lumpur City Hall) has stated that the building management can impose their own rules to control Airbnb based on the volume or complaints of permanent residents,” says Bintang Fairlane joint management body (JMB) chairman Sharif Van der Burgh.