Last week we spoke of the new regulations coming into effect soon that hopes to curb the amount of properties that are ending up on short term letting platforms like AirBnB and others. In response to the current situation, AirBnB has suggested the Government should go even further.
Regulations
Recently the Government announced tighter regulations on short term lettings in order to recover some of that stock. But has the Government gone far enough and will making it harder to legally rent your property for shorter terms have any real effect on the market?
Earlier this month, there were just a total of 854 properties for rent across the whole country. Conversely, at the same time, there are thousands of properties available on short term letting platforms like AirBnB. Laws introduced 3 years ago in 2019 mean you must get a special exemption or planning permission or if you intend on renting out your property for more than 90 days in a year.
But unfortunately this has done little to stop the many landlords who simply ignore the regulations and put their properties online anyway.
New Register for Landlords
Now, AirBnB themselves have come out and suggested that the Government needs to take similar action to their counterparts in other European countries such as Portugal, France and the Netherlands, and create a register of approved short term landlords.
AirBnB have said they will block any unregistered landlord from advertising on their platform. It is hoped that in the very least this will achieve the compliance that was initially expected when the regulations for short term lettings were introduced back in 2019.
It remains to be seen just how many properties can be pulled back into the long-term market as a result of this tightening of regulations, but it is definitely a step in the right direction.
Property Management Company
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