An increase in numbers of rental properties in London being used for short-term holiday lets (Airbnb)
An increasing number of rental properties in London are being used for short-term holiday lets using websites such as Airbnb and are no longer available for long-term renting.
New research by the Residential Landlords Association (RLA) across the capital has found that there has been a 75% increase in the number of multi-listings on Airbnb between February 2016 and March 2017.
The RLA is calling on the Government to end the perverse incentive landlords have to move to holiday lets by scrapping the mortgage interest relief changes.
RLA Policy Director, David Smith, commented:
“With London and the country as a whole in desperate need of new homes to rent in the long term, it is crazy that recent tax changes encourage landlords to move to the short term holiday let market.
“What we need is a tax system that encourages investment in homes to rent for the long term by good landlords.
“By skewing the market Government policy will serve only to hit the hardest those young people and families who most need a growing private rented sector to meet their needs.”
Read the research report from the RLA in full click here.
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