11:10 AM, 19th February 2016, About 6 years ago 12
I am starting to talk to landlords about rent to rent. Ideally I want to create a serviced apartment from a rent-to-rent agreement.
My questions are as follows:
Would I (or the landlord/ owner) need to change the use of the property to Business Use C1? If so, would this affect their mortgage?
If the use changes, business rates would apply which could be re-gathered from small business relief scheme – however, with ownership being in the landlords name, how would this be done?
If no change of use is needed, and a more simple rent-to-rent contract is required, would this type of agreement leave the bandwidth to run the property as a serviced apartment?
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