Thursday, 9 April 2015

Repeal of 1973 legislation enables Londoners to rent out their homes on a short-term basis

Until last week, under a law dating back to 1973*, any Londoner who wanted to rent out their home for a few days had to apply for planning permission, or else face a fine of up to £20,000 for each ‘offence’.

The Deregulation Act 2015 repeals this legislation.  Londoners can now take advantage of websites allowing short-term rents without fear that they are committing an offence.

About time too!  1973 was the year that the UK entered the European Economic Community, the Vietnam War ended and the Watergate scandal erupted.  Much has happened over the 42 years since.

London residents can now participate in the sharing economy, and enjoy the same freedom and flexibility as the rest of the country to let their homes on a temporary basis.

Whilst red tape continues to hold back the sharing economy at least we are moving in the right direction.

*The restrictions on short-term lets were contained within Section 25 of the Greater London Council (General Powers) Act 1973 

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