It was a trend that first began in LA, where landlords discovered they could achieve a better return letting their homes for two months through Airbnb than by offering a traditional, year-long lease.Now London landlords have caught on. In the last four months the number of London listings with Airbnb rose by a staggering 27 per cent, according to a report by the Residential Landlords Association (RLA). Over the same period the capital۪s rents have increased by 6 per cent and there are fears that this could result in a shortage of properties available for long-term lets, pushing up rental prices still further.Holiday lets require extra management and can result in additional wear and tear on a property, so although the figures seem tempting, switching from long lets to short lets may not work for every landlord. At Daniel Cobb we are watching with interest to see if the trend continues to grow.If you are looking for a buy-to-let investment, call us at Daniel Cobb today for up to date, informed advice on buying central London property.
Airbnb could be exacerbatingthe housing crisis by encouraging landlords to takelong-term lets off the market, a report has warned. Following George Osborne's clampdown onbuy-to-let landlords earlier this year, manyhave begun advertising their properties onthe online holiday letting service.
http://www.telegraph.co.uk/property/renting/airbnb-pushing-rents-up-as-landlords-swap-long-term-leases-for-s/
