Airbnb's global policy boss says increased regulation of Australia's short-term rental industry would benefit the house-sharing website and help grow its business in the "incredibly valuable" local market.

Airbnb and similar online rental businesses have become controversial in popular CBD and tourist centres as angry residents complain of noise and interruptions from short-term stays. Some councils have rules which allow home owners to lease properties for short-term stays, while others forbid it or have no rules at all….