The government has been outlining its plans to lift the restrictions on short – term lettings in the capital.
Under regulations dating back to the 1970’s residents are unable to let their properties for less than 90 days, unless they have obtained planning permission, otherwise they can face a fine of up to £20,000 for each breach Housing Minister Brandon Lewis intends to amend the legislation, allowing property owners to generate extra income by renting out their homes whilst they are away.
The thinking is that this will in turn promote tourism as well as reducing the amount of under–used and otherwise empty property in central London. In order to prevent homeowners from seeing this as a permanent option, such short–term lettings will still be restricted to a maximum of 90 days in a year, with other requirements such as:
This will apply to only residential properties where council tax is payable
- It will excluding commercial premises
- If any owners are found to be flouting the rules in particular creating a nuisance, the ability to offer such short term lettings may be withdrawn for the offending property