It doen not matter if AIRBNB or Short term rentals is unregulated in Malaysia.
The biggest problem is the residents and JMBs of the particular buildings which seem to have absolute power to ban and refuse short term stays in their respective building even if its a commercial title building.
This is an issue which is very alarming to hosts in Penang.
We as host can't do much as the law is not on our side and i believe airbnb isnt really doing anything, at least in Malaysia to help host get through this. We cannot host in residential title buildings based on the S&P and now we cannot host in commercial title buildings unless the JMB approves, which is very rare.
So the question is, where can we host when we dont seem to have an alternative?
Putting myself into the shoes of residents, i totally undertand the reasons behind banning/refusing short term rentals. However, many of the so called reasons are just small issues which can be solved with good management and undertanding between hosts and residents. Safety is always the main concern of residents to ban AIRBNB but how many of them know how it works? How many of them actually tried airbnb?
I always believe that there is a win-win solution for both parties. As long as the residents are willing to discuss and come to a consensus. The property situation in Penang is not as good as 5 years ago whereby supply is more than demand, rental prices are not good, property prices isnt appreciating as it used to be. Many of the condos/apartment which are around 3 or 4 years old dont even have an occupancy rate of 50%. If this situation persists, it will only be a lose-lose situation for both parties.