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  • Short Term Rentals

    Changing from BTL to short term rental

    I am considering Airbnb or holiday letting instead of normal AST letting.

    My property is detached and in York and near the race course. I have a small buy to let mortgage. Do I need special insurance and mortgages.

    I'm sure yes but wondering if you need to be mortgage free in fact.There is a company called Find the new keys who manage such lettings. Does anyone have experience of doing this? Are there any tips anyone could offer me?
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    York is a very popular tourist destination year round so I am sure it could be a great location for short term lettings.  However, as always, do your due diligence by speaker to agents to check that it is not over-saturated there.

    To do this legitimately, you need a specialist mortgage and specialist insurance, or have an unencumbered property.

    These two threads should answer all your questions:

    Serviced Accommodation / Airbnb - legally? 

    Serviced accommodation - guide & pitfalls

    ‚ÄčThere are companies that completely manage the whole process for you although I am not familiar with the one you mention.

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    Thanks Vanessa I am looking into all the ins and outs.  If anyone else has experience of this market I would be interested in their feedback too. "Find the keys" have a seminar in York taking place on 28 June which sounds good but I am on holiday unfortunately.   It might be of interest to others though.

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