Short term letting of your home is an increasingly attractive
option for homeowners. There are a number of online platforms, the
most famous being Airbnb, which allow owners to advertise their
rooms and flats to paying visitors.
The attractions of being able to generate income from short term
lettings are obvious, but the perils are not always so clear.
Owners of leasehold property should check that they do not have
any clauses in the lease or mortgage which prevent them from
letting out the property in this way.
Many leases will contain detailed "alienation"
provisions, which prevent sub-letting in its entirety or without
the consent of the landlord. If your lease does not contain this
prohibition, there are a number of other common lease clauses which
could come into play. Your lease may contain a covenant not to use
the property for business purposes, which could very well be
engaged if you provide short-term lettings at the property.
