Can I do a short let legaly?

RDR_2

I am about to become a buy to let landlord. I need to live in the property for 6 months from October, this does not leave me 6 months for a standard AST, is there an alternative way to do a proper tenancy over the summer?

PasturesNew

Not really. If it were an established holiday let you could rent it as a holiday let, with the tenant knowing it's a holiday let ... which means it's accelerated boot out time if they try it on to stay longer.

You could investigate going down the "actually a real holiday let" route, except at this short notice you're unlikely to get any bookings - and most agents wouldn't be interested as it'd be hassle as they've already got their regulars.

But as it's not, then no.

Are you allowed to live in it, under the terms of a BTL mortgage it's often not allowed. Did you check?

Werdnal

If you let it now, you would be very unlikely to guarantee tenant would move out in time for your October deadline. That is if infact you could find a tenant quickly to even make it worth their while moving in! You cannot evict quickly if tenant decides to stay.

I'd also 2nd asking about living there yourself. The whole point of a BTL mortgage is you do not live there, so ask the question of your lender first!

Only possible option would be to take in a lodger, offering them sole use of a room, but sharing kitchen/bathroom etc with you, and you could move back when you need to in October and continue living there with them.

Thefunkygibbons

I have just signed up to a 10 week let, needed for between properties

Short term lets are higher priced than AST as the demand is there but supply is limited

Speak to an EA who does lettings

tbs624

RDR wrote: »

I am about to become a buy to let landlord. I need to live in the property for 6 months from October, this does not leave me 6 months for a standard AST, is there an alternative way to do a proper tenancy over the summer?

Buying the property outright or on a BTL mortgage? If the latter you will not be able to live there yourself - check your mortgage product's Ts and Cs.

tbs624

Thefunkygibbons wrote: »

I have just signed up to a 10 week let, needed for between properties

Short term lets are higher priced than AST as the demand is there but supply is limited

Speak to an EA who does lettings

The reason that the "supply is limited" is because when a property is let on an AST ( assured shorthold tenancy) the LL will be unable to seek a S21 repossession of the property before a *minimum of 6 months* has expired.

silvercar

RDR wrote: »

I am about to become a buy to let landlord. I need to live in the property for 6 months from October, this does not leave me 6 months for a standard AST, is there an alternative way to do a proper tenancy over the summer?

You can do short term lets, legally. Your problem only occurs if the tenant refuses to leave as you have no right to serve a section 21 notice (the normal notice that asks for possession at the end of the fixed term) until the tenancy would have run for 6 months. So with a non-compliant tenant you have a problem; then again if it was a 6 month term, there is always the risk the tenant won't leave on the day you want.

A lot of people near me are doing extensions to their homes rather than selling and to save money only move out during the "knocking through" phase. So the demand for short term lets is high.

As for the question of a BTL mortgage, it should be far easier to convert a BTL mortgage to a resi one (or at least obtain consent to live in it). Much harder for the bank to say no and the penalties they can impose are more limited. For the reverse case, the bank can try to impose a higher interest rate to reflect the higher risk, but in your case the risk is lower.