A London estate agent says he is worried at the prospect of a possible law change in the autumn removing the need for planning consent before letting out a residental property for less than 90 days.
The government is considering the move in September and central London agency Martin Bikhit of Kay & Co says that although the initiative may benefit the market across much of the country, it does not take account of the capital’s needs.
“It will cause a severe lack of longer term permanent residential accommodation. The number of people prepared to pay very high rents for short term lets will tend to push out would-be long term tenants and owner occupiers. Permitting short term rents will effectively blight properties, turning blocks into badly managed hotels and resulting in long term residents having to put up with anti-social noise, lack of security and loss of neighbourliness” he says.
Bikhit also warns that the move may create potential issues with prostitutes and housing benefit fraudsters, and an increase in unauthorised rubbish dumping.
Westminster council has recently written to the government saying that it wants local planning controls over this issue to be retained. It says the major impacts of short term letting will be felt in central London’s apartment blocks, flats, and estates, even if it may benefit rental markets outside of the capital.
.png)
Comments
This is so true having lived in such a block. The illegal holiday lets are bad enough. In my block , with the old metal gates, the hol lets people had no idea how to close them and hence the lifts were often unperceptive .
There is another issue as well.
Although HMRC are cracking down on undeclared rental income in London (incl foreign owners), it will be hopeless to track track hol lets income.