London 'live like a local' home-rental scheme unveiled
Tourists to London will be able to 'live like a local' under a controversial new ‘Airbnb’ letting revolution. The plan envisages allowing citizens to rent out their homes for three months a year and earn thousands of pounds in the process.
Londoners will be allowed to short-term let out their house, flat or spare room thanks to new rules unveiled by ministers this week, the Evening Standard reports.
At present, under the Greater London Council Act 1973, they are banned from renting their property for less than three months without planning permission.
The Government is now seeking to change that under the Deregulation Bill so that Londoners benefit from the 'sharing economy' drive.
The proposed strategy has been met with some criticism from citizens who fear their block of flats could become virtual hotels with the fear of accompanying loud noise, together with the potential for more crime and littering.
Eight boroughs raised concerns with objections over the risk of losing family housing from the rental market and also community togetherness also being diluted.
A typical UK host can earn £2822 a year by letting their property for only 33 days, says Airbnb.
Londoners renting out their properties for short stays, but without planning permission have been warned they could be at risk of a fine of up to £20,000.