Proposed law change will allow London residents legally to rent out their property for short-term periods
A proposed amendment to a 1973 law will enable residential owners of London property to rent out rooms, flats or their whole house for short-term lets within the law for the first time. Currently, those who let out their property on short-term lets face fines of up to £20,000 for failing to secure prior planning permission.
The proposed change comes in the wake of the popularity of Airbnb and other sites that encourage people to capitalise on the demand for accommodation in London.
The proposal comes in a policy paper released by the Cabinet Office. It would update Section 25 of the Greater London Council (General Powers) Act 1973. The law does not apply elsewhere in the country.
The proposed reforms also aim to offer millions of tourists the chance to “live like a local” in London.
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