Member Article

Number of short-term landlords trebles in the last year.

The number of landlords offering short-term lets has trebled in the last twelve months, according to new figures released by FlatClub.com. The London-based short-term rental platform has seen a surge in the number of properties and rooms offered for short-term lets on its platform over the last year.

The number of would-be landlords offering short-term accommodation is up 100% in the last eight weeks alone following the latest announcement from Eric Pickles declaring the government will dispose of legislation which currently requires Londoners to obtain planning permission if they are looking to let short-term (less than 90 days).

Current legislation requires all private homeowners to apply for planning permission before renting it out, however, the Deregulation Bill will give the would-be landlords the chance to let out their home on a temporary basis without having to pay for a council permit.

London landlords can now expect to achieve double the monthly rate for short-term rents with the average property in London fetching £1412 a month and £16,994 annually on a long term let, but for a 30 day let you could reach up to £3152, doubling the potential incomes.

Although the majority of people are driven by the ability to earn extra cash, there were also additional reasons for renting out property short-term. For those with an extra room, more than 38% surveyed said they did so for the extra company or to meet new people. Another one in four (25%) said they did so to become a part of the wider sharing economy.

When surveying those who currently do not let out their spare room or empty property, 47% said they would consider doing so in the next twelve months.

Nitzan Yudan, CEO and co-founder of FlatClub comments:

“Letting out your room or home can be a lucrative business and homeowners are ready to capitalise on the ever increasing popularity of the sharing economy. As landlords wake up to the potential incomes as well as the impending Deregulation Bill the market is only set to explode further.”

“In the short stay market finding the right match between host and tenant is also vital to keep all parties happy. We have launched a new feature, LiveDemand, to open up a new side to our marketplace. Many guests benefit from special discounted offers and many hosts enjoy the ability to be proactive booking their calendars and find trusted guests by browsing their profiles.”

This was posted in Bdaily's Members' News section by VP .