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Short-term social letting: caution from Dorset estate agents

Dorset estate agents are reminding home owners and tenants to be cautious about renting their home out for short periods of time. Social short-term lettings websites, like Airbnb, Wimdu and 9Flats, are gaining in popularity as they offer travellers a cheaper alternative to hotels in more exciting and off-beat locations. They also offer residents the chance to make some money out of their property for very little action. Usually the let is for a matter of days or weeks, and is sought by visiting tourists and business professionals who are in the area for a short duration. Winkworth Dorset estate agents are aware that the county is a favourite among holiday makers and travelers, making short lets an attractive proposition but the initiative should be thoroughly investigated by anyone wishing to pursue the idea. Our first note of caution is aimed at tenants looking to rent out a room or a whole property that they let from a landlord. This practice is known as sub-letting and will almost always break the tenancy agreement that has been signed. Without the landlord's permission sub letting is, in fact, illegal. Dorset letting agents will be happy to advise tenants on the matter of sub-letting as landlord approval is of paramount importance. Owner occupiers also need to bear in mind that letting part or the whole of a property they own does pose risks. There are no guarantees attached to the calibre of short-term tenants that may step through the door and the chance of damage is heightened, plus increased wear and tear on the property. Social short-term lets conducted online do not carry the same checks and stringent procedures as a high street letting agent. In some cases, a let has turned into a sub let, with the tenant posing as landlord to sub-let the room or property while the owner is away. Anyone thinking of purchasing a property for sale in Dorset with regular short-term letting in mind should also be aware that any income generated this way will be liable for tax and it has to be declared on a self-assessment tax form. For both established county residents and those looking to buy flats or houses for sale in Dorset for letting purposes, short-term lets will also bring insurance and mortgage implications. It is advisable to have a full consultation with any buildings and contents insurers, as well as the mortgage lender, to make sure the home and its contents are fully covered, and that no agreements have been breech and therefore invalidated. Winkworth Dorset has four branches that serve the county and our lettings department would be delighted to advise clients on the short-term lettings market. We would also be happy to show you a selection of property for sale in Dorset, many in popular holiday-maker locations. Contact us today for more details.

Dorset estate agents are reminding home owners and tenants to be cautious about renting their home out for short periods of time. Social short-term lettings websites, like Airbnb, Wimdu and 9Flats, are gaining in popularity as they offer travellers a cheaper alternative to hotels in more exciting and off-beat locations. They also offer residents the chance to make some money out of their property for very little action. Usually the let is for a matter of days or weeks, and is sought by visiting tourists and business professionals who are in the area for a short duration.

Winkworth Dorset estate agents are aware that the county is a favourite among holiday makers and travelers, making short lets an attractive proposition but the initiative should be thoroughly investigated by anyone wishing to pursue the idea.

Our first note of caution is aimed at tenants looking to rent out a room or a whole property that they let from a landlord. This practice is known as sub-letting and will almost always break the tenancy agreement that has been signed. Without the landlord's permission sub letting is, in fact, illegal. Dorset letting agents will be happy to advise tenants on the matter of sub-letting as landlord approval is of paramount importance.

Owner occupiers also need to bear in mind that letting part or the whole of a property they own does pose risks. There are no guarantees attached to the calibre of short-term tenants that may step through the door and the chance of damage is heightened, plus increased wear and tear on the property. Social short-term lets conducted online do not carry the same checks and stringent procedures as a high street letting agent. In some cases, a let has turned into a sub let, with the tenant posing as landlord to sub-let the room or property while the owner is away.

Anyone thinking of purchasing a property for sale in Dorset with regular short-term letting in mind should also be aware that any income generated this way will be liable for tax and it has to be declared on a self-assessment tax form.

For both established county residents and those looking to buy flats or houses for sale in Dorset for letting purposes, short-term lets will also bring insurance and mortgage implications. It is advisable to have a full consultation with any buildings and contents insurers, as well as the mortgage lender, to make sure the home and its contents are fully covered, and that no agreements have been breech and therefore invalidated.

Winkworth Dorset has four branches that serve the county and our lettings department would be delighted to advise clients on the short-term lettings market. We would also be happy to show you a selection of property for sale in Dorset, many in popular holiday-maker locations. Contact us today for more details.

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