Geneva wants to limit Airbnb rentals to 60 days a year

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The canton wants the platform to place limits on its use to put the brakes on commercial operators

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The 60 day limit was set by Geneva’s State Council. Antonio Hodgers, State councillor in charge of housing told Tribune de Genève that renting on the platform had become a real business for some and that this needs to be controlled.

The canton wants to prevent properties being permanently rented via these platforms because it’s reduces the number of available dwellings, something considered unacceptable when there is a shortage of accommodation.

The government points out that renting out subsidized housing is strictly forbidden. Those caught can have their leases terminated.

In addition, renters are legally required to pay tourist taxes and landlords to declare rental income in their tax returns.

A study by Zurich-based mieterverband.ch estimated that 32% of short-term landlords in Geneva are commercial operators, one of the highest rates in Europe.

Airbnb responded in a press release saying that is was pleased the canton had decided to put in place clear rules on home sharing. It says it wants to work with the authorities to put in place rules that clearly distinguish between professionals and private individuals.

About Investec

Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.

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