In recent years, the growth of short-term rental services has significantly increased. Around 25% of the total rental market is now handled by intermediaries such as Airbnb, Booking, and others. This number is expected to grow further due to the development of digital technologies.
To protect consumers and increase transparency in the industry, the European Parliament and the European Commission are planning to introduce a single set of rules for rental intermediaries. This will systematize the work of companies and protect against fraud and manipulation.
The main innovation is a unified database of rental services. It will make it possible to store all important information in one place and to refer to it quickly in case of disputes. The information will be available not only to governments and law enforcement but also to ordinary citizens.
It is also expected to simplify the rules for registering one's property in online booking services. This will help many new owners generate income from their properties, but will also require significant investment in the information infrastructure. The latter will take several years to strengthen.
The single set of rules is also intended to help with rising housing prices. In simple terms, it is intended to support healthy competition and prevent any kind of unfair play. It is also worth mentioning the different rules from state to state, which can cause confusion not only for homeowners but also for travelers.