A new municipal planning by-law has officially been approved by the City of Cape Town, making it easier for residents to rent their properties on Airbnb.
The by-law makes provision for short-term letting of their a house or a flat for a period that does not exceed 30 consecutive days. This new regulations will soon be gazette.
Airbnb has stated that it supports the move, saying, “Airbnb believes the proposed rules are right for Cape Town and show the city’s progressive attitude”.
According to Velma Corcoran, Airbnb country manager for Sub-Saharan Africa speaking to Business Tech,“Positive results can be achieved when policymakers and Airbnb work together on the shared goals of making cities better places to live, work and visit. Airbnb has worked with many governments around the world, and would like to congratulate Cape Town on supporting entrepreneurship and empowerment.”
Homeowners will now be able to more easily rent out their homes and make money back for their investments as well as support the local tourism economy.
Airbnb welcomes millions of guests to listed homes every year in South Africa alone and this by-law is sure to increase that number significantly in future.
Locals can sign up for being a host here.
Picture: Pixabay