Kensington and Chelsea Council are commissioning a report into short term lets in the Borough. They took this action after receiving a number of complaints over the last two years regarding anti-social behaviour. The results of the report could be the introduction of new licensing.
The rules for short term lets allow property owners to lease homes for up to 90 days a year with no red tape. This was designed to make it easier for people to let properties to visitors and professionals. Unfortunately a number of issues have occurred as a result. The most notable problems have involved people renting homes for parties and causing disruption in neighbourhoods. Some owners have also exceeded the number of days they are allowed to let for.
Currently the rules state that landlords found guilty of lettings homes for more than 90 days can be fined up to £20,000. If new licensing was introduced and property owners failed to heed it, the penalties could rise to as much as £30,000.
A big benefit of the licensing would be that it allows the Council to introduce new rules. These could include ensuring landlords take responsibility for any anti-social behaviour. The licenses would also protect key areas in Kensington and Chelsea, making it harder for landlords to let their properties without meeting the requirements.
Another thing the Council hopes will come from stricter licensing requirements for short term lets is more people choosing to think long term. This could result in more properties being available for longer rental or even sales. Both of these would increase housing availability in the area.
At Finefair we work hard to ensure we keep landlords up to date on changes to rules. That way they can ensure they meet their requirements and understand their rights. We are experienced at managing different properties, standing out in particular as the best for block management Kensington and Chelsea has to offer.
If you have any questions for us, don’t hesitate to get in touch.