Economic Incentives for Short Stay Rental Hosts
Several key incentives implemented for the tourism sector by the Malaysian Government, have been proposed to be extended to Airbnb and short-term rental accommodation (STRA) hosts.
“This is considering the significant role STRA hosts both individuals and small and medium-sized enterprises play in driving Malaysia’s tourism industry,” Airbnb Public Policy (Southeast Asia) head, Mich Goh said in a statement.
The key incentives given to the tourism sector under the economic stimulus packages include…
- Postponement of tax instalment payments beginning April 1-Dec 31, 2020
- RM1 billion PENJANA Tourism Fund (PTF) facility to finance transformation initiatives in the sector
- One-off RM600 payment and personal income tax relief of RM1,000 on domestic tourism-related expenditure until December 2021
Airbnb also proposed…
- Digital vouchers of up to RM100 offered to all Malaysians for domestic tourism purposes be enabled for Airbnb bookings
- Extend the moratorium on loan repayments at least until December 2020 as many STRA hosts rely on booking income to help pay their mortgage
- The special one-off cash assistance given to players of the sharing economy be extended to STRA hosts as well
“Airbnb is committed to supporting the Malaysian government in weathering the health and economic crisis and taking care of its community of Malaysian hosts, many of whom are ordinary individuals and micro hospitality entrepreneurs, and guests,” Goh said.
To band together and survive the global pandemic, Airbnb has taken several measures including the Extenuating Circumstances policy globally which allows guests to cancel reservations penalty free.
Employees of Airbnb have also donated US$1 Million of their own money to start the Superhost Relief Fund for hosts struggling to make ends meet. Now with a total of US$17 million, the fund has made it possible for financially struggling hosts to be eligible for US$5000 in grants.
"Airbnb Recommends Extension Of Tourism Incentives To STRA Hosts". Edgeprop.My, 2020, https://www.edgeprop.my/content/1708346/airbnb-recommends-extension-tourism-incentives-stra-hosts.