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I feel there is a difference between putting your home up for short term rent while you're away versus buying multiple homes that you never stay in and operatin
by ThJ 8y ago
I feel there is a difference between putting your home up for short term rent while you're away versus buying multiple homes that you never stay in and operating them as a self-service hotel. There's nothing wrong with this, but if you run a business, you must file the appropriate paperwork and follow the same rules as other businesses.
- bduerst 8y agoYou could gate it on primary residence, but some people have family-owned cabins or lake homes that AirBnB would still be a good way to optimize use of the asset. It seems like zoning regulations are still a good way to regulate this.
- madaxe_again 8y agoI moved to my second home, as I left my business and had no particular reason to stay put, and put my main home on the market as an Airbnb. A residential let wasn’t an option as a) I need to stay there from time to time and b) it wouldn’t cover the mortgage. I’m a by-the-book guy when it comes to business, so registered the place as a guest-house business premises with the council. They even remarked that I was the first Airbnb operator to do this in over a year - and there are over a thousand Airbnbs in town. Because the place is under a certain rateable value, which is based on location and size, it is eligible for a 100% rebate on business rates. I’d gladly pay them were anything due, but nothing is. So, not only am I in the clear with local government, but being so saves me several thousand pounds a year.