With the average monthly rent across the UK currently standing at £739, it appears that a growing number of tenants are taking the risk of subletting their private rented property in order to offset the expense.
Insurance provider Direct Line for Business conducted a survey of tenants, finding that 17% have rented out all or part of their property to a person not named of the lease agreement. A quarter of the subletters didn’t bother checking the terms of the lease to see if it was permitted, and 34% went ahead without informing their landlord.
Of those that took the gamble of not informing their landlord, 23% revealed that they were eventually caught. Some had to pay a high price for making deals behind their landlord’s back, with the tenant named on the lease being evicted in 11% of cases, and 6% losing their deposit in the process.
In 22% of cases, the rent went up as a result, while 14% were issued a fine, and 8% were let off with a formal warning.
In spite of the often unpleasant consequences, 15% of tenants say they are considering subletting their property by advertising on property letting websites.
Landlord Action have reported an 18% increase in the number of instructions from landlords with subletting cases over the the last two years, fast becoming one of the leading grounds for eviction.