As we look ahead to 2024, the landscape of Short-term Rental Accommodations (STRA) is undergoing transformative shifts across Malaysia and its neighbouring countries, Thailand and Indonesia.
Let’s explore the key trends focusing on reshaping the hospitality industry and the regulatory dynamics in each country.
Malaysia: Navigating Legal Precedents and Advocating Responsibility
In Malaysia, the absence of specific regulations to govern STRA has prompted proactive measures by Management Corporations. Recent legal developments, exemplified by the Court of Appeal’s decision, clarify the validity of by-laws to regulate STRA.
Airbnb is also engaging with the Malaysian government, proposing a “three strikes law” and advocating for responsible hosting. This means that if a host has his or her properties reported with noise and nuisance more than three times, the host will not be allowed on Airbnb anymore.
While discussions about potential regulations unfold, Malaysia presents an opportunity to reshape its hospitality sector and attract a diverse range of visitors, especially from China and India.
Thailand: Balancing Legal Complexities and Tourism Strategy
Thailand grapples with the legality of Airbnb within an outdated legal framework. A court ruling in 2018 set a precedent against hosts, but the Thai government is now planning to update Ministerial Regulations regarding STRA. Despite concerns about potential tax evasion, Thailand strategically focuses on attracting Chinese tourists through favourable visa policies. This is because the Chinese have been the largest group of visitors before the pandemic and the ease of visa application process for them will help to boost Thailand’s tourism to $100 billion in 2024.
The interplay between regulatory frameworks and appealing to international tourists reflects the dynamic nature ofThailand’s tourism industry.
Indonesia: Prioritizing Safety and Responsibility for Hosts
In Indonesia, Airbnb hosts play a crucial role in ensuring a safe and responsible hosting experience. Compliance with health and safety guidelines, tax obligations and obtaining necessary licenses is essential. The government provides clear instructions, and hosts can contribute to the responsible growth of the hospitality sector by adhering to these guidelines.
For instance, hosts will need to obtain a business identification numberthrough the Online Single Submission (OSS)system as well as a Tourism Business Certificate and Sanitary Certificate depending on the type of property rented out on Airbnb.
Anticipated Trends in Asia-Pacific Travel
As the three countries recalibrate regulatory frameworks, the Asia-Pacific region expects a surge in travellers. Thailand aims to elevate tourism revenue to 3.5 trillion baht by 2024 with an emphasis on international markets. Malaysia focuses on regulatory clarity, safety and fair competition, anticipating changes in accommodation landscapes. Meanwhile, Indonesia provides guidelines for hosts, ensuring secure and welcoming environments for guests. The overarching trend across all is the commitment to boost responsible growth in the hospitality sector.
As an STRA operator, MyRehat is at the forefront of these transformative trends. Our curated selection of fully furnished and impeccably decorated properties in Malaysia ensures a seamless experience for both property owners and travellers.
Stepping into the future of STRA, the key lies in the preparation of adaptability and a commitment to creating unparalleled experiences bySTRA providers. Join us in shaping the narrative of short-term rentals, where each stay tells a unique story.
Embark on a journey of exceptional hospitality and begin your travel experience at www.myrehat.com.