Hi, Ive been approached by Hive Homes Management to do a possible rent to rent as they want to run short term lets in it.
Has anyone done this?
Do I need to do an agreement or should I just use the one they have provided?
Any problems at all or anything I should look out for?
Many thanks
Most landlords will advise against this type of arrangement.
Continiue to do your homework. There are lots of websites if you google for pro’s & con’s of this sort of arrangement, without me replicating it all here.
Many thanks. Will do
Google rent to rent problems for more info.
Do not do it would be my view
Think the message is loud and clear. Many thanks for your input
I just thought i would add in my view. I looked at doing this as i put my flat on the market and it seemed a good way to cover my costs with short term lets. I looked at a number of these companies, including Hive and concluded that the cut they take is a lot for not doing very much. They manage the cleaning (schedule a cleaner), guest calendar and pricing, i still had to pay their commission ( about 20%), the platform fee (airbnb 15%) and the guests paid for the cleaning. I also would have had to pay an onboarding fee of £250. So instead i did it myself, used the £250 to buy three sets of linen. Got a decent little cleaning company to directly manage the changeovers.
It is slightly more profitable than AST but the costs are higher..all the bills, and of course the initial setup cost.
In London i can also only do it for 90 nights, so beware of that if applicable because you could be liable for this as the landlord if they breach the short term let laws.
Having done my 90 nights and the property didnt sell i am going back to ast but it was a useful and not a bad experience. There is a lot of demand for short term lets in my area and it was fully booked the whole time.
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