20 Apr How local laws influence Airbnb and short let in London
Before you decide to become an Airbnb host, you need to be aware of local laws. As part of our management service, we will help you to understand the rules to ensure you are letting your property within the confines of the law. Recently new laws have emerged to boost the sharing economy. Here is a recap of London’s laws, to prove you really have no reason not to short let your flat in London!
1# Planning permission
In Greater London, since 2015, the UK Government changed the planning permission law by introducing a new authorization with the Deregulation Act. From now on, so long as the cumulative number of nights of use does not exceed 90 nights in a calendar year, as a temporary sleeping accommodation, you don’t need a permit. Thus, for a duration of 3 months, you can short let without any hassle!
2# Tax break
Moreover, if you are renting a room in a flat on Airbnb, you probably know that in July 2015, a first tax break has been voted, so you are now able to earn up to £7,500 tax-free from a rented room in a flat. This new tax break has been completed in March 2016. From April 2017, as a homeowner in the UK short renting his full property online, you won’t have to declare tax the first £1000 you earn per year!
Thus, to boost the digital and sharing economy, the United Kingdom is making short letting really easier!
You still need convincing? Well, City Relay is here to make your experience as easy as possible by taking care of all the management for
you: you’ll have all the good points, without the hassle!
Cover picture all right goes to ©Photo Courtesy of The View from The Shard