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  • Buy-to-Let

    Should I BTL or Air BNB my flat in Putney?

    So just about to move out of my three bed flat in Putney and have pondered about the Air BNB option as opposed to BTL, any points of view would be appreicated?

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    Keep in mind you can only do AirBnB in London for only 90 days of the year Smile

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    Most leases do not allow for short term lets such as AirBnB.

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    Thanks although there are many workarounds, not that I would do anything like that!

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    First of all - compliance.

    1.  If the property is leasehold, is there a restriction in the lease for this type of activity?  If so, it would be a breach of your lease to undertake this activity and, in extreme circumstances, your lease could be forfeited.

    2.  If you have a standard BTL mortgage, then this type of activity would be a breach of the terms and conditions of your mortgage, and, in extreme circumstances, the lender could call your loan in.

    3.  You will need to check if your local authority is operating the 90 day rule for Air BNB and short term lets.  If so, you will not be able to rent out the property for more than 90 days per year, which is likely to mean that this strategy is not financially viable.

    See - Serviced accommodation - guide & pitfalls 

    Serviced Accommodation / Airbnb - legally? 

    BTW - those claiming "work arounds" are almost entirely people who offer training and or mentoring and or deals, so you should be very wary of their "advice".

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    Correct!   This activity requires specialist insurance - available from our insurance partner Alan Boswell Group on 01603 649736 . Smile

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    And how much do you like cleaning!! Alot of folk are looking for a couple of days only.

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    I would only offer two days at a premium rate due to the cleaning costs.  Our minimum booking is generally three days.

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    Have you considered selling it to but much higher rental returns properties  - Putney is pretty lowly for yield in general.  Or do you plan to move back into it later or think there is capital appreciation to be had?

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    To be truthful I only have a small portfolia and not sure I would want to expand it in these uncertain times and thanks to everyone for the replies so far.

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