Originally posted by sal
View Post
* Your mortgage terms. Will your lender mind you sub-letting a part of your home, even if it's only to a business that you own. This may or may not depend on whether it's only used by you and your family.
* If you rent, it's likely that sub-letting is against the terms of your lease.
* Could it increase the chance of you being liable to business rates? As a rule, councils don't tend to apply business rates to portions of a home that are used for clerical business purposes if they aren't receiving visitors and are only used by the homeowner and it doesn't substantially change the residential nature of the property. This may still be the case if you have a rental agreement with YourCo but it does formalise the business nature of part of your property so you would need to speak to your council to find out.
Of course, we all know that having a rental agreement is nothing more than a mere formality to enable YourCo to pay you rent and change the way in which you treat those payments and you may of course choose to not bother letting your mortgage company/landlord/council know and it seems unlikely they would ever find out about it.
Comment