Best area in London to invest in Airbnb

[Hani3259]

Hello,

My husband and I want to invest in an apartment in London and run it as a short term serviced accommodation.

We’re currently researching areas and wanted some advice on picking the most ideal location.

Any advice would be highly appreciated! 

Best wishes, 

Hani 

[Huma0]

@Hani3259 

Are you aware of the 90 day rule? In London you cannot rent out an entire unit as an STR for more than 90 nights a year. So, with Airbnb, once you get 90 nights booked in any year, the rest of the calendar will be blocked.

Of course, there are hosts who manage to get around this, but it's not legal.

[Hani3259]

Thanks for your response!

Yes, I've read up on it and I've found out that you can apply to change the planning use class of your property from C3 (house, flat, apartment) to C1 (hotel/serviced accommodation) where by there would be no limit on how many days you can rent out. As far as I'm aware you can do this through the relevant. council. 

Do you know anything about this? How have you managed with the 90 day rule? 

[Mike-And-Jane0]

@Hani3259 I think @Gordon0 has a view that getting planning permission is similar to finding a hen with teeth.

[Gordon0]

Indeed, @Mike-And-Jane0 - and I'd go so far as to say people who've successfully managed are akin to rainbow-coloured unicorns. And remember, @Hani3259, if the law changes and you want to go back to a 'normal' dwelling, or you need to sell, you'll need to go jump through the hoops again. No for the faint-hearted.