Flat not sold – Airbnb?

I looked at this for a 3 bedroom flat and the cost of fitting it out made it unviable. It may be ok for a smaller place

can be difficult with leasehold properties. Permission often needed from management group and sometimes from the freeholder. Mortgage will have to be changed from a Buy to Let mortgage to a Holiday Let mortgage often at a higher rate of interest. For some weird reason lenders believe that rental income from an AST is far superior to Holiday let Income. From past experience you always get paid in full for holiday lets, Good luck with the changeover, On an annual basis you will need at least 50% occupancy to make it pay. Just use Airbnb – agents can charge 15 to 20%,

It depends on what it states on the lease to your daughter’s flat the conditions which are legally binding on her and whoever defined as the landlord/lessor when she paid the premium on assignment to her of the lease.

If she breaches her lease conditions then this could result in forfeiture of her lease consequent on a FTT determination.

The lack of interest may be because lack of years left on the lease, or high service charges, or currently a big issue, lack of reserve /sinking fund, high ground rent, lack of audited certified service charge account, or not held in a section 42 trust account, or potential /future high repair bill.

Others have already mentioned the requirement for permission from the management company and from the mortgage lender (who incidentally will most likely decline). You would also need specialist insurance. However, as the property is in London you also need to be aware that you need planning permission to operate an Airbnb property for more than 90 days in the year. Overall I would say it’s not worth the hassle or the risk of being found in breach of either lease or mortgage terms, with the serious consequences that might ensue. If she really wants to sell, perhaps she needs to take another look at the asking price, the market will always find its level…

On the plus side, I would expect there to be more interest once the tenants have vacated, as buyers need certainty of vacant possession. Without the tenants in situ you also have the chance to clear out the property and present it at its best. I would suggest a good spruce-up, maybe drop the price a little so it moves to the top of the Rightmove listings and get those viewings in. I wish you/her the best of luck!

Reply to the comment left by Kizzie at 28/04/2026 – 11:06
Or even lack of charging for electric vehicles. As a life long landlord I am now looking to rent myself. Having an electric charging facility would be a great bonus for me