Residential and Tourism Model
This information and attached spreadsheet has been prepared with input from the Commissioner for Kangaroo Island’s Local Advisory Board for Housing. The Board is established under the Commissioner for Kangaroo Island Act (the Act) and has now completed its work. In undertaking its work, consistent with the Housing Management Plan, also adopted under the Act, it has become evident that there was a very low number of residential rental properties available on Kangaroo Island in comparison to properties that are rented out for tourists. The Commissioner funded a project to develop a “tool” that would assist the owners of tourism rental properties to consider a range of issues associated to the income/expenses should they convert the property to residential rental. The tool is offered to assist a property owner to consider the benefits/constraints of changing the rental status of a property.
The Council encourages ratepayers to consider the opportunities presented by this project and recognising the tool is guide only, recommend to property owners to seek their own range of advices from various professionals, including real estate agents, when making any decisions in relation to this matter.