Before subletting a property, it's important to understand the legal and financial implications. In an article for PrimeResi, partner Kate Stockdale explains that while subletting can help cover costs, it should only be done with the necessary permissions in place.
The issue attracted attention earlier this year after a National Audit Office (NAO) report revealed that Andrew Mountbatten-Windsor had earned private income by subletting three cottages on the Windsor Royal Lodge estate. Although he pays only a nominal "peppercorn rent" to the Crown Estate under his 2003 lease, the agreement specifically permitted him to sublet up to three properties. The case serves as a reminder that the terms of any subletting arrangement should always be clearly set out in writing.
Kate explains that "Andrew Mountbatten-Windsor's recent example highlights how crucial it is to get the rules in writing.".
Read the full article here.