Transcript

Who's the host? The €60,000 question. · STR Unpacked

Ben: Good morning and welcome to your short-term rental bulletin on the 18th of May. So right now we are two days until the new EU regulation comes in and obviously everybody's talking about it. Specifically, everybody is talking about the registration numbers. However, nobody is asking the question of who actually gets fined. So sounds obvious, right? It's kind of not. So in France, for example, Your property management company can use the register in its own name using an SIRET number. The property manager is the legal host. You control the registration. You control the risk. However, in Spain, registration is tied to the owner's land registry record. The owner is the legal host, not you. So picture this. You run 40 units across France and Spain. Wednesday morning, data starts flowing. and an owner in Valencia forgets to renew the safety contract and the authority suspends the registration number. Airbnb has 10 working days to take that listing down and 48 hours if it's flagged as serious. You did nothing wrong, but you will lose the revenue anyway. So every property management agreement in Europe needed to be updated six months ago. Owner failure, owner liability, lost nights, owner pays. If your PMA doesn't say that, you're not a property manager, you're an insurance policy for somebody else's paperwork. So two days time, this regulation comes in, go and check your contracts. Thank you for watching, I'll see you tomorrow.