Best way to structure three sharers contact?

Thank you everyone. You are right Mandy about changing the strategy.It seems almost impossible to maximize the rent from 3 bed property with all the restrictions imposed by the Council.

Reply to the comment left by “Puzzler ” at “13/12/2014 – 12:09“:

Hi Puzzler, it would be interesting to know, which council is so liberal?

Reply to the comment left by “Jill Coyne” at “11/12/2014 – 22:46“:

It seems like a good idea. I will research it with Croydon Council. It might be tricky from the insurer’s or a lender’s perspective. Do you mean holiday lets?
It seems to me that most people would want to stay longer than 6 months. So how would you market a property which only offers up to 6 month stays. My property is unfurnished, I guess I would need to furnish it then?

Reply to the comment left by “Iwona Kowalska” at “15/12/2014 – 13:53“:

My suggestion about short lets was probably a bit irrelevant to you- & it wasn’t intended to confuse you! But if you were interested talk to some good agents about options. I supposes it’s a bit like holiday lets. For short lets the property needs to be fully furnished so that people can just move straight in & you pay all bills. Might suit people who are having their own property refurbished or people who have short term jobs in a different area- company lets etc. Rents higher but more void periods- you have to decide what works for you in your location & situation.
Whatever you do, get info so you can stay legal, is my advice!

“They have referred me to the website – under licences ”
Typical Council or they will not talk to you & quote you data protection Act.

The Website & data protection has given the Council to not to do anything as if they did anything in the first place.

The Councils are now only & only interested in extorting money out of people & make it plain obvious barring honestly stating it.

Reply to the comment left by “shakeel ahmad” at “15/12/2014 – 22:25“:

Sorry to hear that Shakeel. You are clearly having a similar experience to mine.

Reply to the comment left by “Jill Coyne” at “15/12/2014 – 22:22“:

Thank you Jill. There is no other way but legal as far as I’m concerned.
It certainly is an eye opener.

Short term letting, assuming Iwona wants to consider it, might be an option. I know Croydon well and it’s a major business centre as well as a good base for Central London and the South East.

Nippon Properties http://www.nipponproperty.co.uk/en/landlordregister/index.html, that lets good quality local property to Japanese business people and their families while they’re based on contract in the UK, has been around for some time. My mother knows a couple of Japanese ladies who came to live in Croydon while their husbands are on business.

I don’t know the logistics of how Nippon’s scheme works – i.e. whether the landlord leases them the property, and they take care of management, or whether the landlord is directly responsible, but I suspect the requirements for shorter letting in general could be similar or even stricter than letting as an HMO, plus there might be different tax implications to consider.

This is a link to another short term letting agency that explains how their scheme works: http://www.burghleys.com/short-lets-for-landlords.html

Reply to the comment left by “Iwona Kowalska” at “15/12/2014 – 13:46“:

Hi there, sorry I only just saw this question. Those are the national rules, see the link I posted. I don’t know what you mean by “liberal”? I don’t know if your council imposes additional ones, I believe some do, especially in London.