Holiday homes – a quick way to make money but risk losing your home
Although spring is officially with us, the recent stormy weather, or perhaps the Brexit overload, is leading many of us to reach for our mobile device and book a holiday to escape.
As has been widely reported, the holiday market has changed rapidly in recent years. One catalyst for the change has been brought about by the rise in companies such as Airbnb, making it “easier” for anyone to let their property for some extra cash.
Many people are now using websites and mobile phone apps to find somewhere to stay on holiday themselves rather than using a traditional travel agent. As this has become an increasingly popular way to find that holiday let, some leaseholders have decided to jump on the bandwagon and earn extra cash by using the same websites to advertise their own properties for holiday rentals.
However, without realising it, some leaseholders could be in breach of their lease by doing this. This is because, whilst some leases may require the leaseholder to seek the landlord’s consent for subletting, many leases have terms within them preventing a leaseholder from letting out their property at all.
Leaseholders who do not check their leases before letting their properties could in some cases be risking the landlord forfeiting their lease or, at the very least, facing court proceedings against their landlord.
If you are planning on advertising your property as a holiday rental and you are unsure whether your landlord’s consent will be required, or if you are a landlord who has a tenant that is advertising their property and perhaps shouldn’t be, please get in touch with us and we will happily discuss your options with you.
Please contact Dani Green on 020 7288 4751 or firstname.lastname@example.org