New Airbnb rules for UK guests and hotels but they could be 'a big risk'

Airbnb has announced a partnership with Greystar to allow 1,500 homes across the UK to be sublet by tenants. Airbnb has done this in the past in the US and has now extended it to London as it changes rules for UK guests and hosts.

Prospective tenants will be obliged to sign a contract with their landlord to establish sub-letting ground rules, including limits on the number of nights that a property can be sublet each year. Between 10% and 25% of revenue will also have to be shared with the landlord.

Gary Hall, head of lettings at Knight Frank, says: “Without proper verification, this initiative risks landlords being exposed to unauthorised property listings by tenants who do not have approval. To prevent potential abuse of the system, more robust security measures will be essential, extending beyond a simple landlord signature.

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“While most tenancy agreements prohibit sub-letting, it remains an issue and this initiative may inadvertently highlight it as an opportunity for some to exploit.”. Airbnb says it is “actively discussing” partnerships with landlords to join the platform and rolling out the London scheme to other parts of the UK.

Jesse Stein, global head of real estate at Airbnb, says: “It’s no secret that a lot of tenancy agreements say do not sublet [so] unfortunately, renters have had a challenge historically to become Airbnb hosts. Landlords taking part in the programme were happy as long as they could “ensure that [the flats] are people’s primary homes.”

Airbnb is believed to be keen on extending this kind of arrangement because of growing criticism in many global cities about the impact of short term lets on available housing stock, especially the private rental sector. Maria Hatch, Senior Director, Client Relations at Greystar, said: “Given the success of our partnership in the US, we’re pleased to help introduce Airbnb-friendly Apartments to the UK.

"It adds financial flexibility for residents and our community management teams have visibility into hosting activity, which means they can help ensure everything runs smoothly and there is no impact to the wider community.”