BBC Newsnight analyses the impact of short-term letting apps such as Airbnb. The impact stretches well beyond London to cities such as Manchester and Edinburgh.
The main argument is that the Airbnb effect is taking properties out of the local rental sector. And some neighbours fear a loss of security as numerous homes are let out to fleeting guests for a few days. How would you feel if a hotel appeared next to your home?
A number of businesses now run multi-home listings on AirBNB - effectively they are becoming chains of hotels albeit without the tougher regulations that hotels must meet.
Buy-to-let seems to be subsumed by rent-to-let as people respond to above average returns from the holiday-let market. People are legally allowed to sub-let a property for up to 90 days per year without breaching planning controls.
© 2021 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.