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The following video transcript is generated automatically by a computer algorithm that learns and gets better on a daily basis. Please accept our apologies if some content below doesn’t make sense:

So one thing you’re going to come up against in your property management business is the local and national regulations surrounding letting your properties. Now, we’re not gonna dig into this too deeply. It’s best to cheque what the regulations are like in your local area and your local jurisdiction. But we’ll go through some of the issues and some of the regulations as they exist in the UK. Regulations are different depending upon the type of rental they are offering. So for short term rentals in the U.K., you can offer a property for a maximum of 90 days in a calendar year on a short term basis. If you want to offer a property for greater than 90 days, then you’re going to have to apply for. And when planning permission. Obviously, there are situations in certain cities, in different countries that have completely banned short term, less outright. You know, you need to be a hotel or motel in order to be able to offer this kind of rental. So that’s one to cheque. And bear in mind, and it’s also one to look out for future regulation. What what are the winds of change coming through there? Are there plans afoot or other people lobbying to have that law changed in your local jurisdictions, something to cheque out for for medium term rentals in the U.K. if you’re renting out an entire home, there are no regulations here. You’re able to rent out entire apartments or entire houses for as long as you like. If you are renting it out by room, then you need a. HMO licence house, almost full occupancy licence. That’s on you can apply for and you can get from the local council. You can apply for that retroactively. So. That’s something that you can do, but just make sure that you do do it for long term rentals. The main thing you need is a certificate from a property management association. Again, this is something that can take a bit of time to come through. Can take around about two months to come through. You are able actually to do this under someone else’s certificate. So if you can find someone who’s already got one, you can operate on that basis while you wait for your own to come through.
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