Landlords are taking their property off the open market and advertising them on short-term letting websites, such as Airbnb, the Residential Landlords Association (RLA) has revealed.
The RLA study found that 41 per cent of London properties advertised on Airbnb are part of a set of “multiple listings” – meaning a single owner is advertising several properties. The trend means fewer homes will be available to rent long-term and rent could rise as a result.
Airbnb dispute the findings, however, and denies that a growing number of its clients are professional landlords.
But the RLA is more concerned that landlords are using Airbnb in order to avoid planning regulations.
David Smith, RLA policy director, said: “Given the pressures faced in the capital it is important that properties advertised as being available for more than 90 days a year are genuine holiday lets with appropriate planning permission.
“Otherwise, as well as taking rental stock off the market for those looking for somewhere to live, they are also putting tenants in a vulnerable position without all the protections offered by a tenancy agreement.”
The RLA research also found that there are as many as 21,861 London properties advertised on Airbnb – evidence that many tenants may be sub-letting rooms to short-term visitors.