In a move towards self-regulation, two organisations have developed a set of national Holiday and Short Term Rental Guidelines for agents.
Australia's holiday rental portals Stayz.com.au and Occupancy.com developed the guide to establish a set of industry practices that satisfy the needs of local communities, property owners, tourism operators and guests.
The guidelines are based on the Real Estate Institute of NSW (REINSW) Holiday Rental Guidelines and are effective from 9 September 2010.
"At a national and community level, these Guidelines will help managers self-regulate while promoting best-practice and unity for all stakeholders within the industry," Stayz.com.au general manager Kirsty Shaw said.
Occupancy.com joint chief executive Justin Butterworth said due to the popularity and trends of short stay renting, a set of guidelines was necessary to help regulate the sector.
"Holiday rentals deliver significant benefits to regional communities and local economies in terms of visitor expenditure and jobs," he said.
"These Guidelines help ensure the sustainable growth of this popular form of affordable accommodation which has a 140 year tradition in Australia."
As a condition of listing on Stayz.com.au and Occupancy.com property owners and agents will need to comply with the Guidelines which cover property management, letting agreements, bonds and payments, recycling and garbage, parking, and complaints, as well as visitor obligations and compliance with by-laws.
"We welcome and fully support the self-regulatory guidelines that Stayz and Occupancy have created for the holiday and short term rental industry," REINSW chief executive officer Tim McKibbin said.