Shared ownership homes cannot be sublet. If we become aware of a shared ownership home being sublet we will take action to enforce the lease and will report this to the mortgage lender.
Affordable home ownership schemes – like shared ownership – are often publicly funded to help people buy their first home. It’s important that our homes go to people who need them most, so there are rules against sub-letting or renting out your home.
Short term rentals have become increasingly popular, with some websites enabling homeowners to rent their homes to tourists for just a few days at a time. This can be disruptive for neighbours and can add to the wear and tear in communal areas.
Where we become aware of any of our properties being used for short term lets, we will take all possible action to end this. This may include legal action to enforce the terms of the lease, action to prevent the home from being used for business purposes, and working with the mortgage lender.
Applying for permission to sublet your home
We will only consider giving permission to sublet if the lease gives us this discretion. If the lease simply prohibits subletting, then we will not give our consent under any circumstances. We will also not agree to vary the lease to remove this restriction.
If your lease does not prevent you from subletting, then you will not need our permission. But if your lease states that you need our permission, then please let us know and we will consider your request.
Things to consider if you’re subletting or taking in a lodger
If your lease allows you to sublet your property, the lease terms will still apply to you. So you’re responsible for your tenants’ behaviour, looking after the property and paying the service charge. If your tenants breach the terms of the lease, we’ll take action against you as the owner of the property.
We therefore recommend subletting your property on similar terms to your own lease. You should also check if your mortgage agreement allows you to sublet.
You’ll still be responsible for paying any rent or service charge and making sure your tenant is a good neighbour.
You should draw up an agreement with them, so that you’re both clear on:
- how long they’ll stay with you and an agreed notice period
- which rooms they’ll have access to and any services you’ll provide
- how much rent they’ll pay you and whether they contribute to bills
- any house rules.
You should also consider that:
- You’re allowed to earn a certain amount of money from renting out space in your home. But you should check how much this is as you may need to declare it for tax purposes or benefit entitlements.
- You’re letting a stranger into your home. Find out as much as you can about them and make sure you’re comfortable before agreeing to let them move in.
- Taking in a lodger/sub-tenant can affect your insurance policy, so let your insurance company know.
- Lodgers/sub-tenants need to register as part of your household, so you’ll need to let your local council know.
- You may also need consent from your mortgage provider.
Please ensure you keep us updated on who is living in your property when anything changes.