The Rental Revolution: What is the Sharing Economy doing to the PRS?

Tom Simcock, David Smith

Research output: Book/ReportProject report

Abstract

As the way in which we do business changes, the ‘sharing economy’ is on the rise in the UK. More and more people are now using sites such as Airbnb to rent out homes as an alternative to staying in a hotel, with more than 33,000 listings in London alone. This research report explores the extent of the use of Airbnb and its impact on the private rented sector. Two sources of data are presented. Firstly, to understand the use of Airbnb in London we conducted an analysis of Airbnb listings from insideairbnb.com. Secondly, we used a survey of landlords to explore their experiences of tenants who had sub-let through Airbnb or a similar platform. The findings highlight the negative impact of this technological revolution. From 33,715 Airbnb listings in London, 65% were available for more than 90 days per year. In addition, 64% of entire homes/apartment listings were available for more than 90 days per year (11,296 listings), with an estimated annual revenue of £144,227,328.
Original languageEnglish
Place of PublicationManchester, UK
PublisherResidential Landlords Association
Publication statusPublished - May 2016

Keywords

  • Airbnb
  • Short-term lets
  • renting

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