London being the internationally renowned cosmopolitan capital city of England was the only area in which this new 90-day rule applied.
The idea behind the 90-day rule was to legalise shorthold lettings in London. This is because previously the Greater London Council (General Powers) Act 1973 regulations stated that it was not legal for anyb ody to implement any form of short lettings (a single stay of less than 90-days) anywhere in Greater London.
To explain this in simple layman’s English. Before the new rule, you were not allowed to rent out your property for anything less than a 90-day period. Technically if you owned your own home, renting it out for anything less than 90-days you would have needed planning permission from The Greater London Council. They would then have conducted something called ‘A short’ or a ‘Holiday Let’ for your home.
The new rule to the London Airbnb limit means that any property on the Airbnb books can now be let for 90-days or nights or less in any 12 monthly calendar period.
When the so-called limit has been reached, Airbnb will automatically close all bookings for that particular property until the following calendar year. These UK Airbnb regulations apply to both 90 consecutive days or 90-days. And these are spread out over different times throughout the year.
It still means that in any given area or council in Greater London, the authorities can have a sense of control over the welfare of the new arrivals staying for short periods. Keeping them informed of local tourist attractions restaurants bars cafe’s and healthcare. It also gives peace of mind to the community at large that their house prices will remain stable.
But the institute for public policy research has proved that this has very little impact on house prices. They have carried out quite a lot of research into this scenario. Another positive benefit from this rule means there will not be different sets of people all the time moving in and out all year round. Because let’s face it most people have always liked the idea of getting to know their neighbours.
Many people ask – Why should there even be a ruling telling homeowners how long they can and can’t rent out their properties for? Especially if they don’t plan on staying in the property themselves all year round. It should be up to them. They bought and own their own property. Not the Local Council or the wider community or even the neighbours next door.
Instead, they say. “what is most important is making sure the new tenants are made to feel welcome no matter how long they are staying for. As long as they are clean tidy respectful of the local community and 100 % compliant with the law.”
So the 90-day rule is a fine balance. keeping everybody happy. No matter what side of the argument they are on.
The property owner wants to rent out their house for short periods. At least now they don’t have to go through that long laborious process of planning permission. The community at large who worry about their house prices. And then there are the neighbours next door who have been living there for years. They really don’t have to start worrying about new people coming and going all of the time.
Being a homeowner in London means you will be unable to rent your property out for more than 90 days.
So your big dilemma will be…do you rent it out long-term all year round for a flat rate lower income? (This can be riskier due to tenant evictions regulations.) Or a short-term seasonal let? This option will give you a higher income but only for three months of the year.
KALNA Properties will help you eliminate that dilemma of having to pick between the two. You can have the best of both worlds, as we can rent your property all year round with our hybrid lettings strategy. This will give you a far greater choice and maximise your income.
By renting your property short-term during the high season (between May and August). And renting your property out as a ‘mid-term’ let for the remainder of the year.
Our mid-term tenants are relocation working professionals coming for pre-settled dates. They will be vacating your property at the end of their tenancy. What we do is take all payments upfront, which eliminates the chance of any non-payments. This in turn will give you complete peace of mind.