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Anti-Bullying Week: Understanding the Legal and Cultural Risks
Emmanuelle Ries
Property fraud is on the rise (as I am sure you will have heard from many different sources recently), so much so that Land Registry has even introduced its own property fraud hotline.
Since its launch in 2008, Airbnb has gone on to be one of the defining figures in what has come to be known as the “sharing economy”. But with this increased presence and power, comes greater responsibility and Airbnb are under increasing pressure to uphold and also enforce current laws regulating the short-term rental market.
Airbnb has become a worldwide platform for home owners to generate an extra income stream. The ability to jet away on a tropical holiday and let your home out for a fee or (for those fortunate enough to own more than one home) to let out your additional homes at short term intervals, is certainly attractive. However, whether or not such lettings are legal, or whether they breach any covenants restricting the property, is rarely considered when listing for Airbnb.
P&P Property Limited –v– (1) Owen White & Catlin LLP (2) Crownvent Limited t/a Winkworth [2016] EWHC 2276 (Ch):
This case serves as a welcome decision for professionals when considering where to pin the blame (and liability) in circumstances where a vendor in a property transaction turns out to be fraudulently impersonating the true owner.
In Budget 2016 the Government announced that from April 2017 the tax relief that landlords of residential properties get for finance costs will be restricted to the basic rate of income tax. On 20 July 2016, the new guidance was published and is summarised here.
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