A new All Party Parliamentary Group (APPG) has been launched with a view to looking into short-term lets.
The new group, which will focus on how councils can enforce short-term lets effectively, in order to manage the impact of short lets on residential communities, has been warmly welcomed by the Residential Landlords Association (RLA).
The APPG, which held its first meeting on Tuesday, has been set up by the Westminster North MP Karen Buck, who tweeted this week that the aim of the APPG is “to strike the right balance between the sharing economy, housing supply and the interests of all who live in neighbourhoods with large short-let sectors”.
The RLA’s research arm, PEARL, has been researching the growth of short-term lets and the increasing popularity of sites such as Airbnb for more than four years.
In 2016, RLA research revealed that over a 12-month period, the number of listings on Airbnb had increased by over 60%.
As part of this research, in a sample of 1,463 landlords, 7% of landlords said they were moving their properties from long-term lets to short term lets. A third of surveyed landlords said that the reasons for doing so were due to changes in mortgage interest relief.
RLA policy manager John Stewart commented: “We welcome the news that a new APPG has been set up looking into short term lets.
“The RLA has been researching the rise in short-term lettings for a number of years now. Our previous research into this area has shown that landlords have turned to short-term lets partly due to changes in the past few years to mortgage interest relief.
“As these changes continue to bite, it will be interesting to take a closer look at this trend, and also look at what can be done to make sure short-term lets operate in the best interests of everyone.”
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Why on earth did Osborne give £7500 tax relief to airbnb resident landlords whilst removing mortgage tax relief from genuine landlords providing real homes? Airbnb also causes problems with neighbours and undercuts genuine hotels which need fire regulations etc and provide local jobs.
George Osborne has no experience of real life.
He was being swayed by someone who has a real hatred of landlords.
Removing tax relief on loans, makes being a landlord more expensive and unique in business. All other businesses are allowed tax relief on borrowings.
He claimed to be "leveling the field" between landlords and members of the public.
So a politician, with no real life experience, is swayed by an adviser with a grudge.
Does it all make sense now?
Ireland are passing a law, that in areas of high demand for housing, airbnb will be allowed only on a person's primary residence.
There are also a whole host of other regulations that are to come into force in June.
It is a topic that has been in the news a lot lately, signalling that this may well be the next item on the agenda for government regulation.
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