Buying a flat in London to Airbnb.

[Legacywr]

Just a thought atm, what are the pros and cons to buying a leasehold flat in a reasonably decent part of London to Airbnb?

I’ve never personally used the service, so have no real idea of costs, how to operate it, keeping it clean etc.

I could realise £250k tax free from my pension, and finance the rest.

I also enjoy London, so could also put it to use.

[deggles]

Pretty sure you can only let it out for 90 days a year, unless it already has planning as a short term let. Can't see how it would make sense financially
https://www.london.gov.uk/programmes-strategies/ho...

I'm sure plenty flout the rules and get away with it, mind

[Panamax]

Most decent buildings completely prohibit short lettings, such as Airbnb.

Almost every building will require sub-lets to be properly documented.

By all means ignore the rules but don't be surprised if you end up in an expensive legal action where you will have, for practical purposes, no defence. You'd be even more up the chuff if a renter claimed security of tenure and the whole set-up was in breach of the rules.

[Legacywr]

That’s that, then

[Mandat]

I have a flat in a landmark London development, and I'm also a director on the management board.

Short terms lets, such as Airbnb, are prohibited by the lease, and the management company actively search for adverts & listings for short lets on a regular basis, with action taken against any that are found.

[z4RRSchris]

Mortgage wont allow it

90 day rule in London for short letting - over that you need planning

The lease wont allow under 90 / 180 day lets

For houses / victorian flats where your a share of free, its pretty common to flout all the above. For a flat in a new build you have a very interested management group who will take action against you.