20:54 PM, 21st May 2019, About 3 years ago 18
Has anyone converted a BTL to FHL (furnished holiday let)? After 11 yrs in residency one of my lovely tenants is leaving.
Since this flat is a 5 min walk from Bournemouth’s best beaches, restaurants and bars, I am exploring the option of Holiday let. Since the Government is penalising Landlords with Section 24, the tenant fee ban, 3% SDLT surcharge and the abolition of Section 21, I feel this is a more profitable solution for me.
I’m sure FHL’s has it pitfalls, but I don’t have to worry about someone taking residency and me not being able to gain my property back.
Having been through 2 evictions in 15 years, I count myself lucky, but soon without S21 to rely on and a S8 not fit for purpose, I feel changing all my BTL’s to FHL’s is a safer option. Luckily all my BTL’s are near the beach.
Any advice anyone?
Previous ArticleThree ways to avoid 3% SDLT surcharge on BTL property purchases