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Propertymark calls for short and long-term let parity

Estate agency group Propertymark has called for equal parity between short-term lets and the private rented sector to prevent more stock from being replaced by Airbnbs.

Between July and September 2023 63.6% of Airbnb guests were domestic, signalling that staycations within the UK are becoming more common.

This demand is fuelling short-term lets, who don’t have to meet the same standards as the long-term rental market.

Last month the government looked to give councils more controls over controlling levels of short-term lets.

Nathan Emerson, chief executive at Propertymark, said: “The increase in UK-holidaying has led to more landlords moving to short term lets which is affecting the private rented sector as tenants are struggling to find a property that they can rent in the long-term.

“Inevitably, rents will continue to increase if there is a shortage of homes, therefore it is vital that the right balance is struck.

“Propertymark has long called for parity between short-term lettings and the private rented sector. This would ensure that short-term lets meet the same standards as other rented properties and help address supply issues in the private rented sector.

“Short term lets provide adaptability for property owners and give tourists additional accommodation choices, but at the same time this should not thwart local residents from being able to buy or rent homes in their areas.”

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