We're considering offering up our London flat for sublet over the Easter holidays, when we'll be in the States. A member of a local womens' group, to which I also belong, is looking for accommodation for family visiting here from the US (2 adults and 2 young children) and it seems like an easy way to make a little extra spending money for our trip home.
Has anyone ever doe anything like this before? We're wondering about whether this could be under the table or would have to be reported (i.e. taxable) income, we're wondering if we'd be legally required to inform our landlord of our arrangement and we're wondering what documents, deposits, etc. we would need in order to protect ourselves and our tenants. We're also wondering what the heck to charge... is a private 3 bedroom flat worth much more than a local hotel, much less or somewhere in between?
Is this a great idea or far more trouble than it's worth? Any experiences, suggestions or even things to consider would be appreciated. Thanks!
