With today’s technology, gadgets and gismos, we are in an era where we can list our home on an online marketplace in all of about 5 minutes and make a quick buck or two which might pay for some of that Christmas excess we’ve spent!
Founded in 2008, Air BNB has given us opportunity to advertise and book accommodation around the globe from your computer, mobile or tablet. Air BNB has become a popular platform – it is easy to use, guest and hosts have profiles with scanned identification and reviews, payment transactions are taken through Air BNB and hosts are protected with up to £600,000 guarantee! Sounds pretty ideal right? Right, however there are three important ‘permissions’ you must think about BEFORE you list your property on Air BNB.
- Permission from your freeholder
If you own your property under a long lease, ownership of your home will be subject to the terms in the lease. Most leases will include a clause requiring you to get permission before you can sublet your property. Some leases may even prohibit short lets
- Permission from your lender
If you have a mortgage against your property, you will have a contractual obligation to inform your lender if you want to let your property out on a short term basis. Failure to do so is a breach in the contract.
- Permission from the council
As Estate Agents in the boroughs of Westminster and Camden, we cover properties in Fitzrovia, Bloomsbury, Marylebone, Covent Garden and Soho amongst more. You will need planning permission if let your property where the cumulative total of all short-term lets of your property exceeds 90 nights in the same calendar year (i.e. 1 January to 31 December).
Davis Brown – as Chartered Surveyors and Estate Agents in London, we are able to offer you a unique service where we will let and manage your property on Air BNB so long as you have these important permissions granted! If you are considering letting your property on a short let basis, please contact us to discuss your options.