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Something Must Be Done Or We Will Be Left Facing A Housing Disaster

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Just when it seemed news for renters couldn't get any worse - it has.

Surge in short-term lets on Airbnb. The RLA is concerned that this huge upswing in short-term lets is being driven by landlords taking properties they had previously rented to long-term tenants, instead using them as lucrative holiday lets. Given the serious lack of available rental homes in London (and throughout the UK) this is obviously potentially catastrophic. More people now rent their home in the UK than at any other time since the 1970s. We need more homes for renters than before and anything which sees the rental housing stock plummet is a huge problem that needs to be addressed.

As someone working in the property market, I’m all too aware of the hugely variable quality of rental properties in the capital and today’s figures make me very worried that the properties now finding their way onto Airbnb are precisely the well maintained, quality places that so many Londoners would love to call home but can’t.

If you’re a rogue landlord, letting out an airless, mouldy basement with no mod cons, you’d be unlikely to make a success of letting your place on Airbnb for this reason.

You’d do better to rent it out to a hapless tenant looking for a long-term home, and you’d have little to fear in doing so owing to the paucity of legislation that exists to protect tenants in this country. It’s not, for example, currently illegal to rent out a home that is unfit for human habitation. Madness.

The London BTL market is madnes. There are plenty expensive apartments sitting empty. I don't think, building more overpriced apartments will solve the problem.

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'Left' facing a housing disaster ? What planet do these people live on !! We are slap bang in the middle of one right now.

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The London BTL market is madnes. There are plenty expensive apartments sitting empty. I don't think, building more overpriced apartments will solve the problem.

You have missed the point. Building more is a meme being used to distract from the fact that the Housing Crisis© is the COST of housing.

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Something wasn't done and the disaster is already here.

Moreover, this "disaster" has been a policy of the government and bankers AFAIKS

You mean something WAS done. Again and again. Successive governments have applied sticking plaster to be seen to Do Something, leaving the mess for their successors.

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You mean something WAS done. Again and again. Successive governments have applied sticking plaster to be seen to Do Something, leaving the mess for their successors.

I now think "the mess" was engineered, by the rich, for the rich.

The rich men have done well out of this madess.

The rest of us are paying for it.

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I now think "the mess" was engineered, by the rich, for the rich.

The rich men have done well out of this madess.

The rest of us are paying for it.

Yep. Neoliberalism. Never mind going back to Victorian values we are heading for serfdom.

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Has anyone else noticed that there have been a lot of anti-AirBnB stories around lately? I think we are probably being prepared for a clamp down. Anecdotally, three out of the four flats in my building are now AirBnB lets and my flat will be too when we eventually move out. Luckily our landlord is nice because we'd have zero bargaining power if he decided to put the rents up and it would be good business sense for him to evict us.

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Yep. Neoliberalism. Never mind going back to Victorian values we are heading for serfdom.

"Debt is the slavery of the free." - Publilius Syrus (1st century B.C. btw)

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Air bnb is hugely over saturated. People forget that as soon as everyone does it as its "easy money" - it's not.

My Pal and his burd tried to do this in Edinburgh over the festival. Zero interest. They are everywhere.

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My Pal and his burd tried to do this in Edinburgh over the festival. Zero interest. They are everywhere.

Edinbug in the festival? Isn't that supposed to be heaving?

You need to drop the price to something realistic!

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Edinbug in the festival? Isn't that supposed to be heaving?

You need to drop the price to something realistic!

Yep it's ridiculously busy. Which shows just how over heated the air bnb market is.

His place isn't very central but not too far from town. 2 bed flat could sleep up to 4. Had up for £150 a night. To give you an idea I checked central premier inns during same period - over £300 a night !!

I also checked air bnb for a next weekend - few nights - were always over 300 available.

I was down at his place earlier today. Two flats right next to him had the tell tale key lockers. The next flat on the other side was the same. And this is about 3 miles outside the centre !!

On my block there are two other tell tale keys within 50 m

Saturated beyond belief.

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Air bnb is hugely over saturated. People forget that as soon as everyone does it as its "easy money" - it's not.

My Pal and his burd tried to do this in Edinburgh over the festival. Zero interest. They are everywhere.

Yeah, I do have a peek at my landlord's listings from time to time. I've not been keeping records but I get the feeling that rates and occupancy are both going down. He's charging about twice as much per night than he's getting from us but I'm sure it used to be closer to three times. So he'd need at least 50% occupancy to break even with just renting it out (innit) and I'm not convinced he gets much higher than that most months. Plus the flats require more frequent maintenance and decoration to keep them looking immaculate and he's now paying all the utility bills and council tax. Not to mention the extra effort involved.

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Airbnb is another innumerate middle class hobby get rich quick dinner party conversation scheme. Like tulips, tech shares and btl at various times.

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Airbnb is another innumerate middle class hobby get rich quick dinner party conversation scheme. Like tulips, tech shares and btl at various times.

Um, also indulgences like farmers markets.

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You have missed the point. Building more is a meme being used to distract from the fact that the Housing Crisis© is the COST of housing.

Indeed, hence, loans for loans! Got to keep the debt increasing or it all falls over!

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Housing has been financialised for years, running a car has been since 2008 for most as well, cash is another target for the banksters along with health and the long term care of the elderly and not forgetting your pension. When they run out of monetary teats to suck on society as we know it will be over and a new phase will begin but only after it costs the lives of a significant portion of the worlds population.

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I tried Airbnb in Dublin centre in August during part of my hols.

Hotels were crazy prices. Airbnb slightly cheaper. Huge disappointment. Left quite a negative review on owner's profile page.

Wouldn't try it again unless desperate with no hotel option.

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Then if you have the sort of job that might involve moving around the country on short notice short term contracts and you're subject to that sort of rental market.

It's all pretty shameful and wicked.

Edited by billybong

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Air bnb is hugely over saturated. People forget that as soon as everyone does it as its "easy money" - it's not.

My Pal and his burd tried to do this in Edinburgh over the festival. Zero interest. They are everywhere.

And most landlords won't want the faff of multiple short visits a month with associated checks and cleaning. Most dont even want an annual change in Tennant!

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Central London Renters Have the Best Market Since 2008

Tenants like Gray now have the upper hand. Rents in prime central districts fell 3.6 percent in the year through July, as inventory surged, according to Knight Frank, a real-estate broker. The last time market conditions looked this good for tenants was after Lehman Bros. collapsed in 2008. A flood of properties have hit the rental market after successive tax increases in 2014 and 2016 deterred buyers, leading would-be sellers to put their places up for rent instead. Brexit-induced uncertainty has also added to the glut. The number of prime rental properties available surged 49 percent in the second quarter from a year earlier.

-1x-1.png

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Central London Renters Have the Best Market Since 2008

Tenants like Gray now have the upper hand. Rents in prime central districts fell 3.6 percent in the year through July, as inventory surged, according to Knight Frank, a real-estate broker. The last time market conditions looked this good for tenants was after Lehman Bros. collapsed in 2008. A flood of properties have hit the rental market after successive tax increases in 2014 and 2016 deterred buyers, leading would-be sellers to put their places up for rent instead. Brexit-induced uncertainty has also added to the glut. The number of prime rental properties available surged 49 percent in the second quarter from a year earlier.

-1x-1.png

Think this has a lot to do with immigrants by-passing London and going straight to second tier cities. In Bristol immigration in literally the last 3-4 years has gone off the scale. Never thought my home town would be like living back in London in the early 2000s when everyone around you was speaking a foreign language on the bus, shops etc rents correspondingly are also going through the roof.

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Think this has a lot to do with immigrants by-passing London and going straight to second tier cities. In Bristol immigration in literally the last 3-4 years has gone off the scale. Never thought my home town would be like living back in London in the early 2000s when everyone around you was speaking a foreign language on the bus, shops etc rents correspondingly are also going through the roof.

Sounds like Edinburgh. Same timescale. For 15 or so years gradually seeing more immigrants. However in the last 5 years - a literal explosion in numbers.

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A flood of properties have hit the rental market after successive tax increases in 2014 and 2016 deterred buyers, leading would-be sellers to put their places up for rent instead.

That - if true - is the core of a HPC. No buyers.

Not 1990: zero interest rates mean few are under any pressure to sell. But a market where buyers and renters are better-placed to drive a harder bargain!

Edited by porca misèria

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