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Lifes a game

Uses For Empty Properties

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I recently came across a post from a Canadian visiting London. He used airbnb to find empty properties, I was quite surprised that he was happy to hand over £63 a day to rent a room which can give an income of £2000 a month. Wonder if its a tax free income for the owner too if he is out of the country... Maybe squatters could abuse this system? :ph34r:

We used an app called airbnb. It connects you with people that have an empty flat (possibly people that work abroad a lot and want to make money while they are gone) or people that have an extra room in their flat. We got lucky and found someone that was out of town while we were there so we had a London flat all to ourselves for 10 days for $100 USD per day.

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Its generally tax free even if your in the country. You get £4250 allowed tax free under the rent a room scheme. I go over this with airbnb (we live in a 6 bedroomed place and there are 3 of us).Normally I make about £7000-£8000 a year. However relative is a tax partner in major London firm so helped me out filling in the tax return - you stick half the mortgage interest on that plus half your bills (internet sky movies etc) and then surprisingly you've made a loss.. you then get recompensed via your paye .

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