One of the biggest criticisms we’re faced with in our line of work is the “Subletting is illegal” argument.
This is perhaps one of the biggest misconceptions known to man! While our industry has tarnished the word “subletting” with cautionary red paint, the idea of renting out your landlord’s property to another guest or tenant is perfectly permissible.
In today’s piece, we’re finally going to bust this myth and lay down the rules (the actual rules) of how landlords will let you rent put their property.
Gain Permission from Your Landlord
Once you have written consent from your landlord, their property can be rented out to another guest or tenant. It’s as simple as that.
Of course, shady shortcuts don’t work here – and you’ll need to have legitimate agreements and paperwork in place. In most cases, landlords will happily give you permission to rent out their property – especially if you’ve already developed a relationship of trust with them.
Ensure you make it worth their while too, and give them no reason to feel uneasy. Remember, the rules will vary depending on the kind of landlord you’re working with (assured shorthold tenant rights are different to family intervention tenants) – but a little bit of research will clear this up for you.
The general consensus is that subletting is only illegal if you pursue it behind your landlord’s back while breaching your contract with them. However, there are a few other grey areas to bear in mind.
What is Deemed an Unlawful Practice?
Different regions, housing associations, and property types will have different preferences.
Some of the more obvious unlawful practices would include subletting the property out to five people when only three people are allowed to legally reside in it.
Housing bad tenants without a background check (for example, they may be staying in the country illegally) would also come under the brack of unlawful subletting – among many other things.
Other examples of unlawful subletting include those who are in social housing with stipulations preventing them from taking on their own tenants; and even who have bought part of the property through the shared ownership scheme.
Your best bet is to seek the permission of landlords first and then go about things in the right way – preferably with an experienced agency partner who can show you the ropes.
Why Do Landlords Agree to Let Their Properties be Rented Out?
Most landlords have one prerogative. That is, to get their rent paid on time every month (ideally without any hassle).
However, the business of being a landlord can be cumbersome and stressful, especially if they’re attracting bad tenants and always losing out on money.
If you can give your landlord the guarantee that their rent will always be paid on time, and they won’t have any of the day-to-day stress of maintaining a property (or even a void period), then they will be far more likely to give you permission to rent out their property.
Landlords don’t really mind where their rent is coming from, as long as it’s a legal source and their property is being taken care of. So, with their permission, you can rent out their property for Guaranteed Rent or even as a Short-Term Rental (and make yourself some £££ on the side).
Don’t let the industry myths put you off anymore, and consider a future with SA management.
For more information, visit the Franchise page of this website, where you’ll have the opportunity to make money from other people’s property, yourself. Start your property franchise with Luke Stays.