Many owners of flats hold their property on a long term lease – often 99 years or more. It is common for such leases to contain a provision that the flat can only be used as a private residence. In a recent case, the Court reached the surprising decision that an owner who advertised his flat on the internet for short term lettings, and granted a series of them, is not using the flat as a private residence.
Although, as in so many cases, the Court decision was based on the particular words used in the lease, it is an important decision given the increasing popularity for flat owners to advertise their properties on the internet, and elsewhere, as alternatives to hotels, to produce an income stream.
If you are thinking of renting out your flat, talk to us before doing so. Contact Gary Baker on 01869 252244.