IT ISN'T JUST PARTIES & PROSTITUTES: STOP SHORT TERM LETTING IN K&C

Patrick Bullick

Dear Dame

Can you please draw attention to the scourge of short-term letting in K&C? LINK

"Do you do corporate lets?"

All Central London agents will be familiar with that question from the incomprehensibly stupid minions of the ‘criminal’ short-letting gangs.

Next is ‘with guaranteed rent’.

Some Rent2Rent operators use a more savvy, subtle approach, often deceiving landlords into letting their properties to them.

Virtually all companies involved in Rent2Rent in London are breaking the law in some way. Even those which don’t supply prostitutes and drugs to the sub-tenants - as many do.

Most sub-let room by room and where they can, maximise profits by doing short sub-lets for which they can charge more.

In turn, the landlord renting their property is then facilitating law-breaking and jeopardising their own investment.

‘Oh, but everybody is doing it’ say the gangs, companies and landlords involved.

Not an excuse.

Reasons not to let your property to a Rent2Rent operation in Central London:

1. There is a Greater London-wide ban on letting a property on short or holiday lets for more than 90 days per annum without planning permission.

2. Insurance companies cannot offer policies on buildings where flats are short-let in breach of planning. If they discover during a claim that it has been happening, they can legitimately refuse to pay out.

3. Letting to more than two people from different families requires House of Multiple Occupation (HMO) registration with local authorities - by law.

4. Sub-letting room by room on Assured Shorthold agreements, as many do, is technically wrong and breaches HMO rules.

5. Most leases on flats prohibit short letting - full stop.

6. Mortgage companies require all rules to be followed and can call in the loan where laws and lease rules are being broken. Again, they cannot give permission to situations where laws and building rules are being broken.

7. General nuisance to neighbours.

8. Parties and Prostitutes.

Unfortunately, the Local Authorities (including RBK&C) utterly fail to enforce the 90-day rule and actually make it difficult for neighbours and others to push for enforcement.

This is very short-sighted of them as the illegitimate short-letting market sucks up supply, helping drive up rents and depriving ordinary Londoners of places to live. The Local Authorities undermine their own ability to deliver their housing targets.

Estate Agents, Freeholders, Building Managers, Insurers and Mortgage Companies can all help by cracking down on these unlawful Rent2Rent operators to help drive them out of business.

The Treasury is also to blame for its unfair taxes driving private landlords to find ways to try to make ends meet.

It is still no excuse. 

Kind regards

Patrick Bullick

Patrick Bullick

Managing Director

Former Propertymark Board Director

& Past Chairman NAEA - London Region

www.stanleypropertylondon.co.uk