Glasgow: Airbnb or Long-Term Letting?
At Gallus we have certainly witnessed the peak of Airbnb properties in Glasgow over the past few years. With demand outstripping supply it quickly became a popular option for Landlords and Investors looking to have a steady income without void periods (and a healthy income at that). It is estimated that there are currently over 2,000 listings in Glasgow alone. But Landlords will soon have to consider their options and whether they can effectively continue to operate their properties on the short-term rental market.
At the start of 2020 the Scottish Government announced new legislation which will mean that a licensing scheme will be introduced as well as giving the local authorities power to introduce short-term let control areas.
So what does this mean for your average Airbnb owner? Well in short it seems extremely unlikely that operating a single unit in a block of flats will be considered for a licence. The requirements of the licence mean applying for planning permission with a change of use from residential to commercial dwelling.
According to Glasgow City Council “SG10 – Metting Housing Needs” – Properties which share a common entrance will not be considered for a change of use as short-stay accommodation. The result of this will almost certainly mean that properties that are currently operating as an Airbnb will not conform with the new licensing scheme from Spring 2021.
We would strongly advise that Landlords make their plans accordingly and prepare for life after Airbnb, if you are considering changing over to a long-term let then please use our free online valuation tool to see what you could earn.
In recent months Gallus Property has seen exceptional demand for long-term letting in the City, with rents soaring in recent years it’s no surprise that many Landlords are already wondering if the hassle of Airbnb is really worth it and come Spring that choice may be taken away from them.