Hamptons cashes in on short-lets relaxation

Hamptons International has become one of the first high-end agents to cash in on the relaxation of short-term rentals by setting up its own short lets department.

The division covers Hamptons' mostly south-of-England network with a specialist focus on London which is where short term rentals are predicted to expand in the near future.

Communities Secretary Eric Pickles announced earlier in the summer that the Deregulation Bill would include a measure allowing London owners to rent out their homes for less than three months without having to pay for a council permit.

"The internet is changing the way we work and live, and the law needs to catch up. We have already reformed the rules on renting out unused parking spaces, now we want to do the same regarding renting out your home for a short period. It's time to change the outdated, impractical and restrictive laws from the 1970s, open up London's homes to visitors and allow Londoners to make some extra cash" says Pickles.

Foxtons and a small number of other agents already have short lets departments and some offer similar associated services to those being introduced by Hamptons such as the sourcing of short term accommodation for individual and corporate clients.

But not everyone in the lettings sector is happy about this trend.

Westminster council has recently written to the government saying that it wants local planning controls over this issue to be retained. It says the major impacts of short term letting - like less control over tenants and more wear and tear - will be felt in central London's apartment blocks, flats, and estates.