Landlords are abandoning Airbnb for traditional longer-term lets, claim leading lettings agencies

Two leading lettings agencies have claimed that landlords are abandoning short-let platforms such as Airbnb as they realise that the extra work needed to gain the additional revenue ‘isn’t worth the effort’.

Scottish lettings agency Rettie and Co, which says it handles both short and long-term lets for landlord clients, says more and more are returning to traditional lettings, a point echoed by one of its rivals, DJ Alexander.

Both firms claim a mixture of things are changing their minds. This includes expected legislation from the Scottish government to regulate the short-lets market more tightly; neighbours complaining to landlords about the coming and goings of noisy holidaymakers; and the effort and expense required to manage multiple short-stays.

The Scottish government has been facing criticism of its lack of action over Airbnb particularly in Edinburgh and it is now seeking to level the playing field between long and short-term let properties.

“It’s a fine balance. If you get the regulation wrong you damage the sector and that has implications for your tourism industry, and places like Edinburgh certainly enjoy positive effects from that,” John Boyle (left), Director of Research at Rettie & Co, told The Times.

“So it’s about regulating the sector so we don’t shut it down altogether but also don’t see a massive outflow from private residential tenancies, as cities like Edinburgh and Glasgow don’t have enough housing to pick up the slack.”

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