The Airbnb craze that is sweeping the nation and growing in popularity with many tenants is a causing a growing problem for the many private sector landlords that are discovering that their tenants have actually sub-let via Airbnb. As tenants begin to embrace the new and funky trend, they are failing to check if their tenancy actually allows them to do so.
According to “Landlord Action” the number of cases where tenants have sub-let properties without their landlord’s permission has trebled. Landlord Action have highlighted that sub-letting without permission can cause several problems for the Private Sector Landlord including;
- A Breach of Tenancy Agreement
- Additional wear and tear on the Buy to Let property
- A Breach of mortgage terms on the buy to let property
- A Breach of Building Insurance terms and conditions
It seems crazy that back last year it was highlighted in the news that the Government wanted to change tenancy agreements with a view to allowing tenants to profit from someone else’s asset. How can this be allowed to happen and what is even worse is that without the changes to the tenancy agreements discussed by the Government, the platform Airbnb is allowing this to happen anyway!
How can your tenant be allowed to make even more money from your property than you do? Is this plain and out right cheek on the part of the tenant or are they boxing clever and chancing their arm at turning your rental property into a hotel or HMO for much more money than they are paying you?
As Landlords ourselves we would be mortified to discover that our tenants were profiting from the sub-letting of our house and we feel that the Government should step in and place tighter restrictions on websites like Airbnb. There is no way that your tenant should be able to make more of a profit from your property than you do.
For more information on this topic read the article featured on PropertyWire