Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
I have a 2 bed flat with an 85ft garden that has just become available for let. Before I re-let the property for £950 pcm, I was thinking about installing a log cabin at the bottom the garden and renting this out as a studio flat with small garden for £550pcm including bills.
The log cabin would have its own access and there would be a fence between both properties. The existing flat would still have a 45ft garden and will still rent out for £950 pcm but this time including water, sewage and electric.
The cost to install and fit out log cabin is £6k and a further £3k to separate electric and water which can be done at a later date, hence I would need to pay all bills on both lets.
The question is……am I allowed to do this?
Would I need to inform council, building regs, freeholder of land and the 4 other flat owners?
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