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Adverts on the London tube that caused controversy by encouraging short-term letting are due to be removed this week.
The London tube adverts by company Hostmaker suggested that landlords could make 30 per cent more by ditching long-term tenants in favour of short-term lettings.
As we reported last month, the adverts were opposed by Generation Rent, who said they implied that ‘tenants are disposable and that profiteering from property is more important than providing long-term homes’. They also arranged a petition signed by over 8,000 people asking London mayor Sadiq Khan to ban the London tube adverts.
The Residential Landlords Association (RLA) also backed calls for the adverts to be removed and criticised the movement of homes from the long-term to short-term lettings sector as ‘damaging to communities’.
The company behind the London tube adverts, Hostmaker, had at first defended their adverts, insisting that there was a need for a ‘range of housing and rental solutions’.
However, the company has now backed down and agreed to remove the London tube adverts completely.
Hostmaker CEO Nakul Sharma said: ‘We are sorry for the concern caused by our recent ad campaign and we acknowledge the tone was misguided.
‘The adverts will be coming down this weekend and we will be reviewing all future creatives with our partners.’
However, he still insisted: ‘In a cosmopolitan city like London, there is a need for a range of housing and rental solutions to meet the needs of the wide variety of residents and visitors in our capital city.
‘Whilst it’s critical that there is plenty of affordable housing stock available, our portfolio is made up of premium homes in zone 1 and 2 postcodes and does not take affordable housing stock away from the market.
‘We are here to meet the needs of Londoners and visitors to the capital who would prefer to stay in a high quality, furnished and managed home service.’