Renting out your home through AirBnB could be in breach of your mortgage or lease agreement.
Many mortgages do not allow you to sublet your home without your lenders consent.
If you are are a leaseholder, you might also be in breach of your lease.
The risks were highlighted in the Nemcova v Fairfield Rents Ltd Upper Tribunal (Lands Chamber), which found an AirBnB host to be in breach of her lease.
House Saver's advice - The law is still catching up with the sharing economy so take precautions. Let your mortgage lender know if you are intending to rent out your home through AirBnB. If you are a leaseholder, also make sure that check the terms of your lease.
David
House-Saver
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ReplyDeleteAirbnb hosts in the UK should be aware of several warnings and regulations related to hosting guests. Here are a few important considerations for Airbnb hosts in the UK:
Taxation: Hosts in the UK are responsible for paying taxes on their Airbnb income. This may include income tax, council tax, and value-added tax (VAT).
Insurance: Hosts in the UK should ensure that they have adequate insurance coverage, including liability insurance, to protect themselves against accidents or damage to their property.
Health and Safety: Hosts in the UK must comply with all health and safety regulations, including fire safety regulations, and should ensure that their property is equipped with smoke alarms and fire extinguishers.
Planning Permission: In some cases, Airbnb hosting may require planning permission from the local council. Hosts should check with their local council to ensure that they are in compliance with all relevant regulations.
Compliance with Local Laws: Hosts in the UK must comply with all local laws, including regulations related to short-term rentals, zoning laws, and noise regulations.
By being aware of these warnings and regulations, Airbnb hosts in the UK can ensure that they are in compliance with the law and that their guests have a safe and enjoyable experience. Failure to comply with these regulations can result in fines, legal action, or other consequences.