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TODAY'S OTHER NEWS

Estate agents back Airbnb clampdown “to be on same terms as rental sector”

Agents’ trade body Propertymark has called for equal parity between short-term lets and the private rented sector to ensure they meet the same standards.

The news comes in response to new government data on the short-term let sector which shows there were roughly 2.8 million stays in short-term lets booked through three major online platforms in the UK from July to September 2023. 

With an average of 313,879 guest nights each day, this adds up to approximately 28.9 million guest nights.

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Some 63.6 per cent of guest nights were made up by domestic visitors, which equals 18.4 million altogether, while international visitors made up the remaining 36.4 per cent in the UK.

Nathan Emerson, chief executive at Propertymark, says: “The increase in UK-holidaying has led to more landlords moving to short term lets which is affecting the private rented sector as tenants are struggling to find a property that they can rent in the long-term. 

“Inevitably, rents will continue to increase if there is a shortage of homes, therefore it is vital that the right balance is struck.  

"Propertymark has long called for parity between short-term lettings and the private rented sector. This would ensure that short-term lets meet the same standards as other rented properties and help address supply issues in the private rented sector. 

“Short term lets provide adaptability for property owners and give tourists additional accommodation choices, but at the same time this should not thwart local residents from being able to buy or rent homes in their areas.”

Controversially Propertymark appears to back measures proposed by Housing Secretary Michael Gove, which include: 

- planning permission will be required for future short-term lets;

- a mandatory national register;

- homeowners can continue to let out their own main or sole home for up to 90 nights a year;

- unspecified proposals which he says “will give communities greater control over future growth”.

Under the clampdown councils will be given greater power to control short-term lets by making them subject to the planning process. 

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  • James B

    Yes again propertymark serving their own interests rather than the agents and their clients

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    Well they would, wouldn't they? More business for them!!

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    I would welcome equal treatment for short and long term rentals- but by allowing full tax relief on all btl mortgages, allowing business rates instead of council tax on all rental properties and charging 10% cgt on sale of all rental properties.

    Incidentally it seems to have been overlooked that abolishing separate treatment for furnished holiday lets means that the 10% cgt previously levied on the sale of furnished holiday lets will now rise to match btl punitive rates.

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    Headline is incorrect!
    Estate agents DO NOT back Airbnb clampdown. Propertmark do not represent all estate agents, they just THINK they do.

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    Who the F are Propertymark? Of course they'd like more PRS properties so they can make their commissions renting them. They don't make anything from short term lets. What's it even got to do with them? Why is it even getting space on here? Zzzzzzz

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    Capital gains tax should be determined by the number of years held and reducing each year you held It.
    Say after 15/20 years it should be zero.
    The opposite is currently happening each year you hold it the tax keeps increasing, so long term landlords are held to Ransom and impossible to sell.

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    Correct we are being taxed on inflation

     
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    I am unfortunately in that position Michael.
    With the new reduced allowances for CGT, my wife and I are effectively almost £20,000 worse off if we sell a property.
    I have a commercial building with a maisonette above and have been offered a sum of money to sell, unfortunately, we acquired the building over 30 years ago and the gain would be fairly substantial compared with the price we originally paid.
    We would like to sell it, but when I work out what we will be left with, it simply isn't worth our selling.
    I have other properties that I will look to sell and that would be the ones upon which we haven't made a particularly large gain.

     
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    The government are playing the public for fools. Regardless of colour they look at more ways to raise taxation, increase regulation and generally create a mire of any form of enterprise. That's whoop all the huge companies seem to have got even bigger.
    We really need to return to smaller government, less taxation and much lower public spending but no one will be prepared to do this and the UK will eventually collapse financially

  • Al Li

    I am totally mersy to all these landlords.
    The best way is not to pursue capital gains.
    You gain more, you will be tax more.
    You work hard for nothing.
    If the government want to control everything, let them do it.
    To Make your life less trouble, sell your extra properties.

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