Property expert in warning after huge rise in number of York holiday lets:
A huge jump in the number of holiday lets in York, plus a planned Government shake-up of the private rental market, will have a big impact on renters. The private rental sector has had to adjust to significant legislative changes over the last few years such as meeting the minimum energy efficiency standards through to losing the ability to offset interest payments from an income tax perspective. In our experience this has driven many landlords – due to the capital investment required and or the returns that can be achieved – to reconsider owning rental properties with many opting to sell and make the most of the current buoyant market. Others have chosen to capitalise on the recent demand for UK holidays and have converted their properties to holiday lets.
Will you be letting in York this summer?