Iceland to begin cracking down on Airbnb
The Icelandic government has allocated 64 million ISK towards enforcing existing laws for home accommodations, such as Airbnb, which has been generating considerable revenue in Iceland. It comprises 30% of the guest accommodation market share in the country and brought in ISK 19.4 billion for those renting out their properties through the service. However, there has been growing concern that not everyone is abiding the law for these types of accommodation. By law, anyone can register their home or a room therein on Airbnb for up to 90 days without having to register their residency as a place of business. This law was put in place due to increased pressure on the housing market. While most long-term listings are not legally registered as such, it bears mentioning that the City of Reykjavík has formed a special Airbnb committee tasked with rooting out those using the hosting service illegally.
- Reykjavík Grapevine -