FEARS have been raised that the success of accommodation website Airbnb could be distorting the lettings
FEARS have been raised that the success of accommodation website Airbnb could be distorting the lettings market.
Until recently, the online marketplace, which was founded in 2008, had mainly been seen as a competitor to traditional hotels and B&Bs.
To give one example, an upmarket city-centre flat in Manchester rents for around £75 on Airbnb — less than many hotel rooms.
Now some landlords who would previously have let their property out long-term are turning to Airbnb, as the higher “day rate” means they can hope to make as much if not more revenue over the course of a year — while still having the use of the property on some days.
This trend is narrowing the supply of long-term lettings while also pushing up rents.
In London, short-term holiday lets that are available for more than 90 days a year require planning permission.
As a result, the Residential Landlords Association has asked London mayor Sadiq Khan to work with the government to make sure this rule is not being circumvented on Airbnb.