Hi. I am planning to buy a small flat in the UK to use as a bolt hole and then AirBnB when I’m not using it. I have heard that some leases prohibit the use of the property for short term lets. Has anyone come across this? Many thanks.
You might want to change the title to “in UK” so that our UK hosts know to chime in. A lot of these lease deals are different based on geography, and in areas like Europe where most people rent/lease instead of own like in the US, it’s easier to sub-let than in the US.
You are right some leases (not many) prohibit short term lettings. You would need to check with whichever estate agent you are using and ask them to only put forward properties without this clause.
Do choose carefully - some areas are saturated with BNB hosts, some areas won’t be popular.
If you aren’t going to be nearby you will probably want to get somewhere with a BNB support service to manage it for you/organise cleaning/be on hand if things go wrong.
Typically major cities with universities near public transport do well, but do your research. Other areas that do well are major tourist areas such as The Lake District, beach resorts in Devon or Cornwall.
Thank you that’s very helpful. The property would be in Cheltenham and we would probably just rent it out for the racing and arts festivals
Good advice. After I’d posted the Q I realised it was an international forum.
Have you thought of just buying a 1 bed freehold house? Or is that out of your price range?