Regulating Airbnb in Cape Town

R817 million .. so who paid tax?

I suspect > 75% don't and wonder when gov will force Airbnb to provide income info per property owner
 
no you may not make money from your property because i want to stay there for cheap.
 
access said:
no you may not make money from your property because i want to stay there for cheap.
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Not for cheap don't even joke. CT has never been cheap :crylaugh:

The point is that I as a Cape Town resident who is not a property owner just want to stay somewhere, anywhere at all. The issue for residents of the city is that there is literally no flats or houses or anything to live in anymore and the stuff that is available is priced ridiculously high so we can't afford it.

Karma I guess, because this to me is gentrification at on a grand scale: what Cape Tonians did to Woodstock and Bokaap... now the international community is doing to them.
 
Yes Air Bnb has been bad news for Cape Town residents who rent.
On the plus side one can be sure SARS will soon get their cut of the pie by requiring Airbnb to file rental payment reports ...because in the USA if owners list and rent through Airbnb then
Do Airbnb hosts pay taxes?
If you do this, you may have to pay federal and state income tax on your rental income. Rental services like Airbnb ordinarily report to the IRS the rental payments they send to their hosts each year by filing IRS Form 1099-MISC.
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Once SARS start getting payment reports I suspect a lot less people will be renting their properties out!
 
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AlmightyBender said:
Not for cheap don't even joke. CT has never been cheap :crylaugh:

The point is that I as a Cape Town resident who is not a property owner just want to stay somewhere, anywhere at all. The issue for residents of the city is that there is literally no flats or houses or anything to live in anymore and the stuff that is available is priced ridiculously high so we can't afford it.

Karma I guess, because this to me is gentrification at on a grand scale: what Cape Tonians did to Woodstock and Bokaap... now the international community is doing to them.
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Its actually the other way round. The international market discovered CT a while ago when the rand was down and CT was up and coming. Locals were priced out back then and had to start moving out of the city to buy property, so now the CBD surrounds are overpriced and so are the suburbs. Yes, its gentrification on a massive scale.
 
Hosehead said:
Yes Air Bnb has been bad news for Cape Town residents who rent.
On the plus side one can be sure SARS will soon get their cut of the pie by requiring Airbnb to file rental payment reports ...because in the USA if owners list and rent through Airbnb then

Once SARS start getting payment reports I suspect a lot less people will be renting their properties out!
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I think there are a few other factors... the other being that the market is going to be over saturated soon. There are people who have purchased properties with the express purpose of letting it out on AirBnB, those guys are going to get screwed because there are a lot of people who are letting out their rooms and don't rely on the income, those people are going to drop their prices and the whole thing will collapse.

Going to be a lot of burned hands.
 
AlmightyBender said:
Not for cheap don't even joke. CT has never been cheap :crylaugh:

The point is that I as a Cape Town resident who is not a property owner just want to stay somewhere, anywhere at all. The issue for residents of the city is that there is literally no flats or houses or anything to live in anymore and the stuff that is available is priced ridiculously high so we can't afford it.
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A history of bad tenants, and concerns over aquiring new bad tenants also play a huge role in ensuring high prices. The thinking being that higher prices discourage a certain 'element'.

AS a landlord, one of the worst situations to find oneself in is dealing with a problematic tenant who does not comply with the terms in the signed lease agreement.
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http://www.news24.com/SouthAfrica/L...r/dos-and-donts-of-evicting-a-tenant-20160113
 
Are they also going to regulate holiday rentals on other platforms?

Because of our countries laws always protecting the criminals, I'd much rather buy a place for Airbnb than long term rentals.
 
xrapidx said:
Are they also going to regulate holiday rentals on other platforms?

Because of our countries laws always protecting the criminals, I'd much rather buy a place for Airbnb than long term rentals.
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Dunno about all accom platforms but certain are required by agreement to report to various tax authorities
 
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