Renting Residential Accommodation As A Company
A company is in a sense a ‘person’. It has a legal identity and is capable of owning a business, hiring staff, and owning and renting property.
Property can be rented by a company as a ‘residential tenancy’. Of course, a company cannot live in the property itself. It does not have a body or exist in a corporeal form. When a company has a residential tenancy, it lives in it through its directors and employees.
When a company rents residential accommodation for its own staff or directors this is known as a ‘company let’. Note, however, that if property is rented for the purpose of subletting to customers, this will be a commercial tenancy and not a residential one.
Considering residential tenancies, there are significant differences between lets to people and lets to companies. Let us take a look at them.