Licences and home sharing
According to the Tourism Administration Act, no. 73/2005, it is the task of the Icelandic Tourist Board to issue licences and register operations for travel agencies, tour operators, booking services and information centers, and monitor these activities in order to ensure that requirements for operations are met.
According to the Act on Restaurants, Accommodation and Festivities, no. 85/2007, the District Commissioner of the greater Reykjavík area (Sýslumaðurinn á höfuðborgarsvæðinu) executes and monitors the granting of licences to operate restaurants, hotels and other accommodation and to host festivities.
According to the abovementioned legislation, an individual may, for up to 90 days per year combined and up to a total gross rental income of max. 2 million ISK, rent out no more than two properties owned by that person according the legal terms of home sharing. The home sharing activities of individuals are registered and monitored by Sýslumaðurinn á höfuðborgarsvæðinu (the District Commissioner of the greater Reykjavík area).
Failing to comply with the legal requirements for home sharing can result in administrative fines, the delisting of a property for home sharing or the denial to re-register a property the following year.