I'm new to the property management industry in the UK that I have some very basic questions for those that can assist me.
In the US, individuals that own their own home can offer it for rent on a weekly basis (as in holiday letting) without having to be a licensed realtor. When an individual undertakes to rent another person's home, then the property management company must have a broker's license, or a broker must be involved in the rental of such property.
Does the UK have any similar laws?
I am sure as I go on I will have other questions, but I'd appreciate any information on this topic.
Thanks
Property Management laws in the UK
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CatheadBay
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- Joined: Tue May 12, 2009 1:51 pm
- Location: USA
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Hello and welcome. There are not specific laws for holiday rentals but there are taxes, insurance etc. I would suggest that you get in touch with the local tourist office or look at their website as they provided me with useful information when we first started (even if you don't get rated by them !)
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CatheadBay
- Posts: 2
- Joined: Tue May 12, 2009 1:51 pm
- Location: USA
- Contact:
Thanks for the reply, goosie. So, if I understand your comment correctly, even if the home is not owned by the rental company (individual) then there is no requirement for the rental company (individual) to have a license of any sort? I understand that there might be taxes and insurance issues and I'd be grateful for any links to that information, if you could provide, but before contemplating that, I just need to know whether I would be permitted to rent another person's property. As you can surmise, I'm neither a realtor, nor a broker.goosie wrote:Hello and welcome. There are not specific laws for holiday rentals but there are taxes, insurance etc. I would suggest that you get in touch with the local tourist office or look at their website as they provided me with useful information when we first started (even if you don't get rated by them !)