Letting London join in the Sharing Economy

Written on 26 Feb 2015

As a result of changes to London’s housing legislation, currently going through parliament, the city is being invited to join the rest of the country in the 21st century and embrace the growing phenomenon that is the “sharing economy”.

Residents of Greater London wishing to rent out their homes for short periods (think Wimbledon and the Olympics) are currently required to obtain planning permission or face a hefty £20k fine.

All that would change under the Government’s proposed reform. Nothing is set in stone yet, though, so there is still time for a U-turn. You can read more on the government’s proposals in the Department for Communities and Local Government paper here.