That's according to NZ Property Federation's Andrew King who spoke about the issue on TVNZ1's Breakfast today.
Jeff Walter Paterson started renting the Taranaki Street apartment in May last year, and then subleased the property 54 times on Airbnb in violation of his tenancy agreement.
The code word is used in bars overseas and now it's launching here in a bid to reduce sexual violence.
Two years ago Emma Gils bought her Auckland apartment with moggy Floyd in mind.
The Prime Minister is speaking to Business NZ in Wellington, ahead to the May 17 Budget release.
BP says it's been working with officials for "a number of months" to ensure it's prepared to implement the tax on July 1.