If any further evidence is needed of my view that the industry is expanding so fast that things break, here it is. In early June 2018, the New South Wales government introduced a radical clampdown on short term rentals in Sydney.
Unless the owner is present, short term rentals in Greater Sydney are limited to 180 days per year. This will drive many short term rentals out of the market in Sydney. It will also be easier for councils elsewhere in NSW to introduce similar regulations.
Timing of implementation is not clear.