There are now a great many booking platforms to help you rent your home on a short-term basis - Airbnb being the most popular one.
However, there are a number of short-let regulations that you should be aware of if you plan to rent out your home. This article will provide you with all the information you need to be sure you are in compliance with the rules
Four things to keep in mind:
In order to comply with the rules, Airbnb is now automatically imposing a limit on its property listings so that they cannot be rented out for more than 90 days. This applies only to entire homes listed within the Greater London area. Check the counter on your profile to see the number of nights your home has been booked.
All the must-knows on the 90-day annual limit in our article:
The planning permit issued by the local council also provides you with the permission to rent it on a yearly basis.
On 26 May 2015, a change in U.K. regulations made it mandatory for anyone renting out an accommodation for more than 90 days per calendar year to obtain a planning permit. This is referred to as the Temporary Sleeping Accommodation. In short, it means that if you plan to use third-party platforms such as Airbnb or Booking.com to rent out your accommodation on a short-let basis you must first apply to your local council for a planning permit.
Anyone who fails to apply the existing regulations and exceeds their 90-day allowance without obtaining a permit could be forced to cease their activities and also be subject to a hefty fine.
For help on how to apply for a planning permit, please refer to our planning permit guide.
The new rules imposed by the 2015 Deregulation Act also stipulate that all persons responsible for providing the short-let rental accommodation are under legal obligation to pay the Council Tax.
In all cases, you must get a gas safety certificate for the property and carry out a fire risk assessment on a yearly basis. Your property should also provide a smoke detector, and a carbon monoxide alarm.
Regardless of whether you wish to apply for a planning permit or not, the Council advises you to first check with your Landlord before listing rental accommodation on booking sites such as Airbnb. It is also recommended that you verify that there are no restrictions on short letting in any leases, insurance or mortgage policies you may have.
Many people reading this may feel like renting out their London property is more hassle than it is actually worth. We don’t agree! Just make sure you keep track of the number of days you have booked your place, and you’ll be just fine. Plus, think about all those potential tax benefits you might be getting!
But if you think it still sounds overwhelming, then Luckey Homes would be more than happy to help you out! Please do not hesitate to get in touch with us if you have any more questions.