According to new stats, tenants are increasingly sub-letting their homes and are therefore at risk of breaking the terms of their tenancy agreements.
Direct Line carried out research that shows one in six tenants has rented out part or all of their property to someone else, who isn’t named on the lease.
There are a few reasons a tenant would want to do this but it’s thought the biggest reason is to earn money to contribute towards the total cost of renting, which has been rising sharply in recent years.
From the selection of people asked, 25 per cent didn’t check the terms of their lease before inviting another person to live at the property. And a third of those surveyed didn’t tell or ask permission from their landlord.
With the average rent reaching up to £739 per month in the UK, tenants are using a third of their income on their properties. That has meant a greater need for them to find a source of income elsewhere. You can read our blog on rent rises in London here.
Sub-letting a property without the consent of a landlord can be devastating. Failure to do so (depending on the tenancy agreement terms) can mean eviction, as well as the refusal of a reference if you need to rent somewhere else. In many cases, landlords are also entitled to keep the deposit.
If you’re a landlord, there are ways you can protect your property against unauthorised sub-letting. Routine inspections at your property can highlight any problems you should be aware of. To talk to Outlet about managing your property on your behalf, give us a call on 020 7287 4244 or click here.