subletting rentals

Drillsalter

I have been approached by a person who does Airbnb and has asked if i would be interested in him renting my flat and using it for Airbnb. He has offered me 2 plans. The first being that he would pay the rent and take care of any joinery/electric faults install new blind, dishwasher etc all i would have to do is take out the subletting clause and say i agree to holiday lets.

The second offer was that he would take care of everything as above, doesn't pay the rent and we split the airbnb 50-50.

Has anyone been approach by this idea? Is this a good to get involved in. I'm thinking of just taking the monthly rent.

Has anyone got any thoughts or experience they could help me with.

Mrs36

If you are a tenant I would very strongly suggest you check your tenancy agreement. The ones I use specifically forbids subletting and as a landlord ifi got wind of a plan like this I would be ending that tenancy very quickly.

G_M

Drillsalter wrote: »

I have been approached by a person who does Airbnb and has asked if i would be interested in him renting my flat and using it for Airbnb. .

Do you mean you own this flat? If so, is it leasehold?What does the lease say?


Or are you a tenant? If so, what does your tenancy agreement say?


(oh - and 'this person'. Who is he? Friend? Bloke whojust knocked on your door? What?)

HampshireH

How would you benefit? Where do you / would you live?

Drillsalter

I am the landlord. I was advertising my flat and the chap booked an appointment to view. I live in Scotland and the flat is freehold.
He told me that he had split with his wife and was looking to rent, but he had already committed to another rental. He went on to show me several photos of properties that he advertises as airbnb and was willing to show me the properties. He has his own blind company and is hoping to extend this to an interior shop on the line of Fads. I don't believe his story that he was originally interested in renting himself, but an access to have this conversation about airbnb. I don't hold that against him.

The idea of having my flat looked after properly is very appealing especially after my last tenant. He's offered new blinds throughout. I have ordered new carpets and he has offered to fit them foc. Sort any maintenance that's required and install a dishwasher, again all foc and he'll leave them with the property when the agreement ends - 2 years. He has agreed to have the flat completely redecorated and new carpets installed at the end too.

My flat is in a prime location for airbnb, but i am wary of been taken by a new con that's about. Or this could be just someone who is just being upfront and looking to make money without owning a property. I get my rental and he looks after the property and takes the risk of getting people to stay.

eddddy

If you were in England/Wales, you would potentially need:

• Planning Consent for material change of use
• Appropriate Buildings Insurance
• Pay business rates
• A suitable mortgage (not a standard BTL mortgage)
• (Consent from the Freeholder)

Not sure about Scotland.

Dorian1958

Do you own this flat outright or is it mortgaged? If mortgaged, what type of mortgage, does the lender allow subletting? What are the terms of your house buildings and contents insurance? Are you happy to wash your hands entirely of what goes on in your property? (cannabis farm?) Have you undertaken any due diligence on the proposed tenant? Not expecting you to reply, just some other issues you may want to think about.

davidmcn

eddddy wrote: »

If you were in England/Wales, you would potentially need:

• Planning Consent for material change of use
• Appropriate Buildings Insurance
• Pay business rates
• A suitable mortgage (not a standard BTL mortgage)
• (Consent from the Freeholder)

Not sure about Scotland.

All correct for Scotland other than no need for planning (much talk about that changing soon, or at least allowing councils to set their own policies), and we don't have freeholders. Sometimes title conditions would prohibit it though.

hazyjo

Sounds scammy to me. Would also suspect drugs or even a !!!!!! shoot. Wasn't there a thing a while back about how many airbnb places were being used on !!!!!! shoots?

Google it. If a scam it'll prob be on the internet.

rachel230

Drillsalter wrote: »

I have been approached by a person who does Airbnb and has asked if i would be interested in him renting my flat and using it for Airbnb. He has offered me 2 plans. The first being that he would pay the rent and take care of any joinery/electric faults install new blind, dishwasher etc all i would have to do is take out the subletting clause and say i agree to holiday lets.

The second offer was that he would take care of everything as above, doesn't pay the rent and we split the airbnb 50-50.

Has anyone been approach by this idea? Is this a good to get involved in. I'm thinking of just taking the monthly rent.

Has anyone got any thoughts or experience they could help me with.

And you have credit checked and referenced this person (stranger?) and trust him with the keys of your home because you know that he will keep to his side of the agreement? And if he doesn't? Do you know about the legalities of being a landlord and how to evict if necessary?

Drillsalter

Thank you all for your replies. I'm pretty new to this and asking questions is always the best way to gather information. I would do credit checks and referencing, but the reason i haven't stormed ahead is that i have my suspicions and want to get other peoples advice and thoughts. I have always been careful, sometimes to my folly missing out on opportunities. I would have to inform my mortgage lender and i was going to call my insurance. Even at that if everything was ok, the eviction side has been the real cause for concern.

Got more viewings this week, so hopefully will like someone that ticks all the boxes.

The question is now on the forum and will hopeful give thought for anyone else who is approached.