"I have owned my property for more than 20 years and have a number of restrictive covenants in my favour over my attached neighbour. One of them states that the house next door must be used as a single-family dwelling. The present owners are living abroad and want to sell, and are asking that I sign a deed of release for the single-family covenant because this is interpreted by the mortgage lender as not being allowed to rent out/Airbnb the property, and their potential buyers want to do this for extra income. Is this a valuable covenant to keep? Is it even enforceable?"
Russell-Cooke partner Ed Cracknell answers a reader's question in the Home Help section of The Sunday Times and explains that there are several factors to consider; it's not as simple as a 'yes or no'.
Should I allow my neighbour to let their property on airbnb? is available to read on the Sunday Times website via subscription.
Ed is a partner in the property and housing litigation team.
He specialises in all aspects of property litigation and property dispute resolution. His areas of expertise include landlord and tenant disputes, business lease renewals, rent and service charge recovery, possession proceedings, and dilapidations claims.
Ed has a particular interest in the renewal and termination of telecoms leases under the Electronic Communications Code. Other specialisms include adverse possession, restrictive covenants and rights of way and light.