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Hopeful Edinburgh AirBnB hosts could miss out on 'hundreds of pounds' under new law

Edinburgh homeowners planning to convert their humble abode into a money making machine could miss out on hundreds of pounds under a new law. 

It was announced last week that Edinburgh City Council is cracking down on short term lets and are launching a consultation with residents on a suggested 'control zone'. 

The control zone would cover the entire city, and would mean Airbnb and other short term let owners must acquire planning permission to use the property for this reason. 

But with Edinburgh raking tourists in throughout the year, especially with the Edinburgh Festival Fringe, Christmas Market and Hogmanay, hopeful hosts could be losing out on hundreds of pounds if they can't get that planning permission. 

Research by money.co.uk revealed how Airbnb owners increase their prices by up to 300% based on local events and public holidays, and this could now be at risk. 

During the opening weekend of the iconic arts festival, Edinburgh Festival Fringe, Airbnb nightly prices shoots up 20 per cent (19.58%). 

Click her to read more - https://www.edinburghlive.co.uk