Regulating short-term stays in Penang

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GEORGE TOWN: Residential property investors hoping to make a killing from the short-term stay business are likely to find it an uphill task with the new regulations in place.

State local government, housing, town and country planning committee chairman Jagdeep Singh Deo said other residents would now need to give their consent to units being used for short-term stays.

“We formulated these guidelines not to deny property owners the right to rent them out, but to regulate short-term stays.” “It is clear that it will be difficult for people to convince many JMBs or MCs to allow them to use their units in that way,” he said.“We must be fair to the people and the tourism sector,” he said.

Attia said most short-term stay hosts are individuals and not companies, and such individuals could be “pushed out from participating in the lucrative sharing economy”.

 

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