January 31, 2017
Airbnb’s popularity is exploding in Australia, and Sydney is its boomtown, but real estate agents say our love affair with the online homestay network is driving up rents. Zara* was the perfect tenant; clean, quiet and always paid her rent a month ahead. But she didn’t stand a chance. “One day I get a message saying they needed the apartment back,” she said. “I was paying $480 a week in Bondi Beach for this studio but then it pops up on Airbnb a few weeks later for like $300 a night.” It’s an all-too-familiar story in the beachside tourist hotspot…
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