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TODAY'S OTHER NEWS

New Airbnb rental calculator highlights how much more rent landlords can make

A new online calculator highlighting how much more rent landlords can make by letting to holidaymakers via Airbnb across a range of UK cities instead of making properties available for long-term rent has been launched by blinds specialists Thomas Sanderson. 

The online tool, based on landlord surveys, will undoubtedly appeal to the thousands of buy-to-let landlords who are considering converting their property to a short-term holiday let. 

Nationally, ARLA Propertymark estimates that as many as 500,000 private rented homes could soon switch from the traditional private rental market to holiday or short-let accommodation, owed primarily to tax and legislative changes in the PRS. 

There has been major growth in the short-term lets sector, with a new report from ARLA Propertymark, in partnership with leading research consultancy Capital Economics, revealing that the number of active listings on Airbnb in the UK rose by 33% to 223,000 in 2018 from 168,000 in 2017. 

The study, which looks at the scale of Great Britain’s short-term lets sector and the wider implications on the PRS, also shows that 16% of adults have let out all, or part, of their property at least once in the last two years – equating to 8.2 million people.

This suggests 4.5 million properties, the equivalent of 19% of the UK’s housing stock, have been used for short-term lets, which works out at 24.2 million properties. 

A key concern with the increase in short-term lets is the impact it’s having on the private rented sector and the tenants who will suffer due to a fall in the number of properties available for long-term rent.

Cllr Jacqueline O’Quinn of Brighton & Hove City Council, commented: “I find this type of online [Airbnb rental calculator] tool deeply disturbing as it means taking rentals out of the long-term rental market and making them short-term i.e. holiday lets.

“This means depriving families of rentals in the city and depriving those who work in the city of somewhere they can live.

“This has a negative impact on the city as we need to be able to offer long-term accommodation to those who live and work here.”

Generation Rent, an organisation that represents private renters, is calling for councils across the UK to crackdown on Airbnb and other short let platforms, and has launched an online petition, which you can view on the 38degrees website. 

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    You’ve created an unfair playing field for private landlords. Now you’re complaining the market adapts. I suggest Government reviews what it has done to the sector and select reverse gear for a short distance.

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    First GR complains that landlords are renting out properties to them, so the govt cripples our ability to make a return by unfairly hiking taxes, then they complain that some of us turn to other ways of making a return. Perhaps it will give govt pause to rethink, but probably not, they will just start trying to squash the FHL sector as well, except it helps tourism which adds to the economy. And the FHL cat is well and truly out of the bag anyway. Personally I don't think I will bother with that but I do find that HMOs are still worthwhile on the whole.

    Paul Barrett

    What GR wants is to convert private LL into quasi social LL charging social rents.
    Like that was or is ever gonna happen!!
    They delude themselves like most socialists that they can control what people do with their capital.
    Without private capital there would be millions of homeless.
    It has been LL private capital that has very successfully housed millions of people in the absence of sufficient social and private housing provision.
    The PRS has done all that has been asked of it and now because it has been so successful in doing so it is now being pilloried for that success!!
    Wish the PTB would make their bloody minds up.
    Do they want to house the nation with taxpayer funds or do they want private capital to do it!?

    If they want to take over LL properties I'm sure many LL would be prepared to sell at full market price with a reduced CGT bill
    The normal one that everyone except LL can pay!
    The PRS has become a victim of it's own success.
    Govt incompetence will result in mass homelessness and a PRS the same as the 60 and 70's
    Can't see tenants liking that
    The Irish GE has resulted in a tie partially because of the Irish S24 which has now been abandoned but has left a legacy of vastly increased rents and homelessness due to LL exiting.
    The same will occur on the mainland
    Govt has to realise that it doesn't need to appeal to the whiney GR metropolitan elite anymore.
    It doesn't need their votes.
    But what it does need is affordable housing for tenants.
    Only the PRS is able to bring supply to market nearly instantly.
    But will only do so if worthwhile.
    Currently it isn't!




     
  • Kristjan Byfield

    Can anyone locate this tool? Have they pulled it? Looked online and on their website and cant find it anywhere!?

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    Perhaps Shelter, GR, and assorted lefties will turn their attention on Airbnb etc. and the tax advantages currently given to the short term let market who cause havoc in many residential areas as well as removing homes from the longer term rental availability. They might even realise that decent landlords are not their enemy and focus on rogue landlords AND rogue tenants who deprive decent tenants of decent homes due to following Shelter's advice not to leave a property - for which they're not paying rent - until all legal avenues (and the landlord) are exhausted! However, I won't hold my breath!

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    Landlords are being shat on from a great height and this is unlikely to change....I have a dozen rental properties and have decided that I will sell one or two a year until they're all gone (first one was sold last year)...I've had enough! I'm out!!! Time to invest in something which is taxed fairly like other businesses.

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