The rise of the short-term lettings industry has brought many complications to the housing sector, but experiences differ drastically by sales/lettings and across the country. Propertymark says that by hearing from agents across the UK, they will not only be able to paint a wider picture, but also reveal nuances between local areas while exploring any potential benefits for landlords, tenants, agents, and communities.
At the start of 2020, Propertymark commissioned research on The impact of short-term lets but since then, the landscape of short-term lets has changed and Propertymark now needs to understand the repercussions this is having in the market.
Whether you are seeing drastic issues, or not impacted at all, Propertymark asks that your thoughts are heard to strengthen its policy campaigns which help drive balanced, positive change in the industry.
Timothy Douglas, Head of Policy and Campaigns, comments: “Our member's thoughts and feedback strengthen our calls for Government intervention on issues affecting the industry.
“Thanks to previous views submitted to us, we were able to respond to both the House of Lords Built Environment Committee and the Scottish and Welsh Government inquiries on short-term lets and second homes as well as engage with politicians across the UK who in certain parts of the country have seen private rented stock removed from the rental market and used as either short term rentals and/or holiday homes.
“We urge all agents to respond and share what is happening in their area to help shape Government thinking on this important issue.”
Phillip Nelson, Research Officer at Propertymark comments: “A key concern with the increase in short-term lets is the impact it’s having on the private rented sector and the tenants who will suffer due to a fall in the number of properties available for long-term rent.
“Another problem arising is in sales prices, where demand for second homes often let on the short-term market, are pricing locals out of popular tourist spots.
“On the other hand, short-term lets could attract tourists to the area, boosting the local economy. Where does the balance of positives and negatives lie and how can the sector be moulded to maximise the benefits while minimising the drawbacks?
“It is important that we have accurate data from agents on the ground in order to help inform robust solutions.”
