The booming short-term rental market in South Goa is set to undergo significant changes as the Goa Real Estate Regulatory Authority (Goa RERA) releases comprehensive new guidelines targeting vacation rentals. These new rules, set to take effect in February 2025, aim to bring order to a sector that has grown exponentially over recent years.
Key Provisions of the Guidelines
- Mandatory Registration: All short-term rental properties must now register with Goa RERA and display a unique registration number.
- Standard Contracts: Property owners need to use lease agreements and documentation outlining specific terms like guest capacity limits and quiet hours.
- Guest Verification: Owners must keep records of guests via government ID documentation and provide access to authorities if needed.
- Compliance Fees: Annual fees based on property value will fund regulatory oversight and consumer protection initiatives.
- Dashboard for Complaints: A dedicated portal for reporting conflicts, disputes or violations, accessible via the RERA website.
The Registration Process
The guidelines simplify online registration through the RERA portal while imposing strict deadlines. Property details must include:
- Title documents
- Layout plans with usable areas
- Sanctioned building plans
- Current tax invoices
- Energy meters' calibration certificates
Failed compliance risks penalties up to ₹10 lakh or revocation of registration.
Impact Analysis
For Property Owners:
- Increased operational costs
- Enhanced credibility
- Mandatory maintenance schedules
- Reduced cancellations
- Access to legal dispute resolution
- Adherence to neighborhood etiquettes
For Tourists:
- Guaranteed quality checks
- Documented rights
- Transparent refund policies
- Standardized pricing practices
- Escalation channels for complaints
- Identity protection measures
Strategic Partnerships
The draft encourages collaborations with aggregators like Airbnb and OYO to enforce compliance through stricter list requirements. Regulated portals would need to display property registration numbers prominently on listings.
While some stakeholders expressed concerns over bureaucratic hurdles, industry insiders anticipate these measures will stabilize the market and attract higher-quality investors. The guidelines also address long-standing issues like illegal commercial activities in residential zones and service tax evasion.
As South Goa grapples with rising tourist influx, these reforms position the region as a leader in regulated alternative accommodations - setting a precedent other states might emulate. Property managers and owners are encouraged to familiarize themselves with documentation requirements well before the February deadline.