Rent out Your Place When on Holiday
Tenants | Tips for Tenants | 27/05/15
Did you know that you can make that seemingly unaffordable holiday affordable by renting out the accommodation that you use during the most part of the year? It’s easy! Before you get started, there are some important things you should know.
Even students can do this- life as a student is expensive, and also can be a lot of hard work, but neither of these reasons should mean that you shouldn’t take the opportunity to go on a little getaway. You deserve it!
Is Subletting Legal?
The short answer is yes. If you are a tenant in an apartment or spare room, you legally have the option to rent out your accommodation to someone else during your periods of absence as long as you are given permission by the landlord (and other tenants, if applicable) beforehand.
It’s simple. Just provide your landlord with a letter and await a response from them. Most landlords are more than accommodating in the requests to have a replacement tenant, even if it is for a short amount of time.
The Benefits of Subletting
After you have reached an agreement with the landlord, the burden of paying your rent will be greatly reduced.
You are allowed to discuss the rental price with you subletter, however make sure that you do not exceed the rent that you yourself pay. If you do this, you will have to file taxes as earning additional income, PLUS some landlord will cease to allow you to sublet the space.
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