London opens its Arms to Home-Sharing
A London law tells hosts to get a planning permission to rent out their apartments for less than 90 days or a penalty of ₤20,000 (26352,59 Euro) is imminent. It was to protect the house supply in London. Now this 42-year-old law will be revised.
Homeowners will be able to rent out their accommodation without having to buy a council permit. Nevertheless renting-out will be still limited to up to 90 days a year or less.
Tourist can still experience the real London by staying in someone else´s home and to live like a local instead of going to an expensive hotel.
It´s allowed as long as it regulated and people are paying taxes such as council tax and tourism tax for renting their property out and that will be good for the economy. In London you can earn up to ₤2,822 (3800 Euro) by renting out your accommodation for a month.
It is a small victory for us and we hope that London will be a good example and other metropolis catch up with the online trend.
You can read more here.