London rental homes disappearing as landlords switch to short-term lets

Data shows that hundreds of thousands of London rental homes could be converted into Airbnb-style short-term lets, leading to a potential shortage in the long-term rental market. Research by Propalt reveals that over a fifth of short-term lets in London were previously occupied by longer-term tenants, and more than 10,000 homes are owned by landlords transitioning to holiday-style rentals. The trend is driven by the desire for higher returns and lower fees. Experts predict that this shift could result in a significant reduction in the availability of long-term lets. However, there is hope for a rebalance as landlords may tire of the additional obligations of short-term lets. 

London Evening Standard