The new rules of renting property in London

New rules for renting residential property in London will be presented soon for the consideration of the legislature London.

Under current rules, which for more than 40 years, Londoners who want to rent their homes to rentals of less than three months must obtain a special permit and go through a lot of bureaucratic approvals. This act, which was adopted in 1973, requires to obtain permission for a short-term lease that is not required anywhere else in the UK. The rules have sparked controversy ahead of the Olympic games in London in 2012. It was a lot of criticism for unpopular measures, which also applied locally only in London.

Now made the final decision to change this archaic system and to provide the people of London to rent their homes on a temporary basis for a short period – for example, when they go on vacation. At the same time decided to abolish any unnecessary red tape and bureaucratic obstacles in obtaining permits.

At the same time, these measures will not allow residential buildings to turn into hotels or hostels, as this will need to change the “purpose” .

These measures will not only create a more competitive environment of London’s tourism industry, but will contribute additional earnings of families living in London.

Changes in the rules of renting residential property in London has followed the rules of the lease of Parking spaces, submitted last year. Had the opportunity to rent out unused Parking spaces, which expanded the possibilities for Parking and also helped earn the owners of free Parking.

After a brief consultation, would be adopted by repealing the act that will provide homeowners in London, freedom in the choice of the term for which it will be possible to rent out your residential property.

® Helen Entree. On 09.06.2014

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