Posted on 18 September 2017 by
Research conducted by the Residential Landlord Association has found that 7% of the landlords they surveyed had started to offer properties as holiday or short-term lets through online sites like Airbnb.
The research found that the trend was at its most acute in London where there has been a 75% increase in the number of multi-listings on Airbnb between February 2016 and March 2017. The shift to short-term holiday lets means that more pressure is placed on the rental market as the number of long-term rentals in the market is gradually reduced. And the problem isn’t just London centric, nationally between February 2016 and March 2017 there was a 67% increase in the number of homes or apartments listed on Airbnb.
|Change in number of multi-listings on Airbnb in London between Feb 2016 vs Mar 2017|
|February 2016||March 2017||% change (Feb 16 – Mar 17)|
|Entire home/apartment listings||6,934||11,595||+67%|
Nationally, the RLA estimates that this could mean some 134,400 private rented homes have moved from the traditional private rental market to holiday or short-let accommodation.
Of those landlords who have moved over, 36% report this is because of the changes to mortgage interest relief which mean landlords being taxed on their income instead of their profit, and tax relief only being available at the basic rate.
Categories: Buy to let
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