{"id":11273,"date":"2023-07-20T16:48:25","date_gmt":"2023-07-20T15:48:25","guid":{"rendered":"https:\/\/www.staysitu.com\/blog\/?p=11273"},"modified":"2024-01-11T12:33:35","modified_gmt":"2024-01-11T12:33:35","slug":"london-exploring-the-availability-legislation-link-for-extended-stay-accommodation","status":"publish","type":"post","link":"https:\/\/www.staysitu.com\/blog\/london-exploring-the-availability-legislation-link-for-extended-stay-accommodation\/","title":{"rendered":"London, UK | Availability-Legislation Link for Extended-stay"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The regulatory environment for short-term stays is changing in many key global markets, with London being no exception. Availability of short-term accommodation in London is subject to the usual high demand during the regular summer season for tourists and graduate programmes, as well as events such as Wimbledon and the London Marathon. In 2023 King Charles\u2019 Coronation had a substantial effect on demand for rooms. In addition, a weaker pound versus the dollar is currently attracting US tourists to the UK.&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"1024\" height=\"402\" data-src=\"https:\/\/www.staysitu.com\/blog\/wp-content\/uploads\/2024\/01\/MicrosoftTeams-image-94-1024x402-1.webp\" alt=\"London, UK | Exploring the Availability-Legislation Link for Extended-stay Accommodation\" class=\"wp-image-13156 lazyload\" data-srcset=\"https:\/\/www.staysitu.com\/blog\/wp-content\/uploads\/2024\/01\/MicrosoftTeams-image-94-1024x402-1.webp 1024w, https:\/\/www.staysitu.com\/blog\/wp-content\/uploads\/2024\/01\/MicrosoftTeams-image-94-1024x402-1-300x118.webp 300w, https:\/\/www.staysitu.com\/blog\/wp-content\/uploads\/2024\/01\/MicrosoftTeams-image-94-1024x402-1-768x302.webp 768w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/402;\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Housing in London is at a premium in many parts of the capital. In common with other cities around the world, there has been a steep rise in short-term lets through digital booking platforms. City planners believe that rents are driven up by excessive numbers of short-term lets and are also concerned that the character of residential areas is being changed by a high turnover of short-term guests. Rules in England are still being formulated to address&nbsp;the regulatory environment around short-term letting in general, which is anticipated to include a tourist accommodation registration scheme; although there are also consultations on whether planning permission will have to be granted before new short-term lets are able to operate.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since 2015, Londoners have been permitted to let residential property up to 90 nights <sup>1<\/sup> which relaxed previous rules dating from the 1970s where any short-term letting required planning permission<sup>2<\/sup>. However, at least one of the persons letting the property must also pay council tax. Making it more difficult for the individual property owner to rent their property on a short-term basis is likely to lead to a reduction in diversity of product, as&nbsp;is being risked in other cities with rigorous short-stay rules, such as Edinburgh.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There is the possibility that this strict regulation may lead to a greater professionalisation of the short-term rental market, which inevitably may affect the whole extended stay sector.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As Situ accommodation partner Alex Gonzalez of Fraser Hospitality, points out, \u201cThe current&nbsp;regulations lead to an aparthotel industry model with operators that can take short- and long-stay bookings in the same product (under one license).\u201d However, as Tower Hamlets Council makes clear<sup>3<\/sup> even if planning permission was sought to change the use of residential properties in this way, such permission is highly unlikely to comply with local&nbsp;housing policy and is unlikely to be granted. Perhaps this means that new serviced accommodation development may become concentrated in already commercial areas.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In terms of changing trends, Alex notes that, \u201c\u2019Bleisure\u2019 is definitely a trend&#8230;remote working is changing the patrons in many ways: there are employees that are looking to work from different cities and will ask their employers for remote work, while booking short-\/ long-stay accommodation (and) exploring different cultures.\u201d In addition, some employees won\u2019t be asked to travel as their secondment can be undertaken remotely. Alex also says, \u201cAnother change is the size of the accommodation. Travellers for long stays are looking for larger apartments from where they can work and have other facilities, like co-working space, fitness facilities, etc.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When asked about availability, Katie Stewart from Marlin Apartments confirms a \u201c&#8230;drop in stock with suppliers closing\/ selling, especially two bed apartments.\u201d<sup>4<\/sup><sup> <\/sup>Nevertheless, Katie reports Marlin\u2019s intention to expand inventory over the next 12 to 24 months to satisfy increased post-pandemic demand for larger spaces; in fact, she says, some long-let apartments have even been brought back into service.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Both Alex and Katie say that recently, pricing has increased in response to increased costs, as for many other businesses in the UK and Europe. As Alex says, \u201cEnergy is a big part of our running cost, and our prices have to reflect the impact we have suffered as a business due to the rising energy prices.\u201d&nbsp;<\/p>\n\n\n\n<a class=\"gb-button gb-button-6f1200db gb-button-text\" href=\"https:\/\/situlivingltd.my.salesforce.com\/sfc\/p\/#4K0000018dYZ\/a\/8e000000ThCw\/9T6ll7_CSpPUBc8oPwZSnM3OGaCWYEZHkTUbKpTj2yY\" target=\"_blank\" rel=\"noopener noreferrer\">Access White Paper<\/a>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">1 The London Assembly. \u2018Short-term and holiday lets in London\u2019.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">2 Gov.uk Press Release. \u2018Boost for Londoners as red tape slashed on short-term lets\u2019.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">3 Tower Hamlets Council. \u2018Short-term Lets\u2019.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size wp-block-paragraph\">4 For further discussion around investment into the serviced apartment sector and&nbsp;different possible products in London and other cities, please see p. 23.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Do you need a stay in London? Do browse our selection of great <strong><a href=\"https:\/\/www.staysitu.com\/\">Situ<\/a><\/strong><em><a href=\"https:\/\/www.staysitu.com\/london\/serviced-apartments\">&nbsp;serviced apartments in London<\/a><\/em>, or pick up the phone and give one of our friendly accommodation specialists a call at <a href=\"tel:+44(0)1392690079\">+44 (0)1392 690 079<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The regulatory environment for short-term stays is changing in many key global markets, with London being no exception. Availability of short-term accommodation in London is subject to the usual high demand during the regular summer season for tourists and graduate programmes, as well as events such as Wimbledon and the London Marathon. In 2023 King &#8230; <a title=\"London, UK | Availability-Legislation Link for Extended-stay\" class=\"read-more\" href=\"https:\/\/www.staysitu.com\/blog\/london-exploring-the-availability-legislation-link-for-extended-stay-accommodation\/\" aria-label=\"Read more about London, UK | Availability-Legislation Link for Extended-stay\">Read more<\/a><\/p>\n","protected":false},"author":22,"featured_media":11332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,35,23,44,48],"tags":[],"class_list":["post-11273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","category-press-release","category-relocation-and-global-mobility","category-situ-news","category-situ-whitepaper","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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