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There is talk in the press about the regulations concerning short term lets (those below 3 months) being relaxed. There will still be regulations and legal constraints. As we understand it, holiday lets (such as AirBnB) are NOT allowed. But we cannot advise you in any way as to how these changes might affect you: take proper advice from Westminster Housing. See this recent policy statement (PDF) by the Leader of Westminster Council against Short Term Lets, the damage they can cause and the actions the council are taking against them.