Defined as a short term let. Acceptable where the Valuer confirms:
- the security property is suitable for occupation under an assured shorthold tenancy including any restrictive lease covenants (AST will not be required);
- the ICR calculation fits on the market rent based on an AST;
- and there is demand for the property from both owner occupier and investor buyers.
Considered on a case-by-case referral basis for HMO/MUFB properties.
Only considered for CHL 2 range products.
Related words: business accommodation, extended stay, housekeeping, holiday let
Category:
Tenancy