Hi,I have purchased a flat 1 year ago.After trying to let it out myself for a couple of months I got in touch with a rental company named Nestaway. They would be charging 12.5% commission on the total rent,and would be taking care of getting tenants,showing them the flat and other small inhouse maintenance works on my behalf.Their model is such that they give individual rooms to 1 person or 2 persons if they are ok with sharing.So in this way even if 1 room is full and the other empty I get some rent for the flat instead of nothing.i also made the flat fully furnished with all utilities like TV,washing machine,beds,sofa etc. so that I can get higher rent.
The problem has started a couple of months back when the association was formed.They are saying that this is commercial activity and has to be stopped.Their argument is that owners should give the flat directly to tenants and this rental agency is taking flats from owners and then they give it to tenants,so owner has no connection to tenants.Also they are saying it's like hostel/PG .
I purchased the flat expecting high rental value,but now association is putting pressure.
Can you pleas advise if this type of rental is deemed as commercial?
