More than 165,000 property investors are generating income from their second homes by letting them out to holidaymakers, according to new research by an insurance firm.
And Property Division has uncovered a wealth of anecdotal evidence to suggest that a significant number of property owners are using their primary residence as a short-stay holiday let.
We know of a number of householders in the Wimbledon area who let their homes to players, officials and tennis fans for three weeks each summer when the grand slam tournament is taking place in SW19.
And the growth of websites such as HouseTrip and AirBnB – which connect users from all over the world who are looking for short-let accommodation – indicates the trend for generating income from holiday rentals is growing.
In fact, HouseTrip co-founder Arnaud Bertrand has said: “Our target audience is rapidly catching up to the fact that they’re getting great value by renting a home as opposed to staying in a hotel. I see a not too distant future where our category will be the most popular type of travel accommodation.”
Private landlords who jump on the home from home bandwagon need to be aware that they must get their short-term guests to sign a holiday letting agreement. A Holiday Letting Agreement Forms part of a landlord’s raft of necessary paperwork. This is why Property Division is pleased to offer you a free agreement. Simply print off two copies, sign one and hand it to your tenants, then get your tenant or tenants to sign the other and hand that agreement to you.
However, ASTs do not cover agreements where tenants pay more than £100,000 in rent per year or when a limited company rents a residential property.
The latter often involves companies renting residential accommodation and letting the property to their employees, usually under a licence agreement (as opposed to a tenancy).
If you like a custom, completely personalised tenancy agreement, use the link below. It takes about 5 min to create and you will end up with an agreement, tailored to your specific property.
Alternatively, if you just want to download a generic holiday let tenancy agreement template, use the link below.
While the employee will usually pay rent and other costs to the landlord, ultimately the company is liable. All content on this form and other forms for landlords published by Property Division are provided “as is”, with no guarantees of completeness, accuracy or timeliness, and without representations, warranties or other contractual terms of any kind, express or implied. Property Division does not represent or warrant that this letter or other material supplied by Property Division will be accurate, current, uninterrupted, error-free or omission-free.
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