AirBnb attacks “buy to let speculators” after regulation threat

AirBnb attacks “buy to let speculators” after regulation threat


Todays other news
It's applied to the social housing sector for a year...
In total, three agencies have been kicked out of the...
The company also encourages tenants to bring in pets...
The event takes place next July...
AirBnb attacks “buy to let speculators” after regulation threat


AirBnb says proposed changes to short let rules in Wales should be aimed at property speculators, not ordinary people.

Advertisement

The Welsh Government this week announced that councils will be able to control numbers of second homes and holiday lets.

Advertisement

There will also be a licensing scheme for home owners and landlords who want to operate short lets, such as AirBnbs.

Advertisement

There will be three new classes of property in the Welsh planning system: a primary home, second home and short-term holiday accommodation.

There are also powers to be given to councils to apply for higher Land Transaction Tax (the Welsh version of stamp duty) on second homes and short lets. It has already been agreed that Welsh councils can charge up to a 300 per cent premium on council tax on homes that aren’t occupied all year round.

Advertisement

Now AirBnb has responded, saying it wants to be part of a “solution” to “the historic housing and tourism challenges facing Wales”.

It urges politicians to acknowledge that not all accommodation providers are the same.

Advertisement

A statement says: “There is a big difference between buy to let speculators and Hosts who occasionally share their homes on Airbnb to afford the rising cost of living.”

And it describes income from AirBnb as “an economic lifeline for thousands during one of the greatest economic challenges in decades.”

The platform concludes: “AirBnb looks forward to working with the Welsh government on rules that unlock the benefits of hosting for regular people while clamping down on speculators and big businesses that drive housing concerns and overtourism.”

There has also been tourist industry criticism of the Welsh Government plans for business rates on properties to let.

Currently, properties available to let for a minimum of 140 days in any 12-month period, and actually let for at least 70 days, pay business rates rather than council tax. But from April 2023, properties must be available to let for at least 252 days and actually let for at least 182 days in any 12-month period to qualify. 

If an owner cannot meet these thresholds, then they will be required to revert to paying council tax.

However, holiday let owners argue that the 182-day rule is unfair and unrealistic for most owners due to seasonality – many areas get few if any bookings in the autumn and winter periods.

Ashford Price, secretary of the Welsh Association of Visitor Attractions, believes around 1,400 businesses are now at risk as a result.

Price tells local media in Wales: “From April 2023 the Welsh Governments ‘utopian’ future for those still left in self-catering in Wales will be like working under rules reminiscent of a ‘Stalinist Regime’ where you are told the number of days your business ‘must’ be open for (252 days.), the number of letting days your business ‘must’ reach (182 days) – which is an unobtainable figure for the majority of operators in Wales, and finally the ‘punishment’ if your business fails to meet any of these new government demands is an increase of up to 300 per cent in your rates bill.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
1 Comment
Oldest
Newest Most Voted
Recommended for you
Related Articles
Digital globe with interconnected puzzle pieces representing global connectivity.
Busy real estate expo with attendees and booths in a large hall.
The event takes place next July...
Diverse letting agent team collaborating during a meeting.
The data comes from SpareRoom...
Letting agent handing over keys to new tenant in office.
Cheffins is the agency which partners with a building society...
Landlords are selling up and rents are rising as a...
This is apparent in the prime lettings segment, it's claimed...
The fine was slightly reduced in return for rapid payment...
Recommended for you
Latest Features
It's applied to the social housing sector for a year...
In total, three agencies have been kicked out of the...
Sponsored Content

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.