poetpilot
The answer is Yes (I am not a lawyer!) but -
You need it to be insured at least for "Club Use" and yes Haywards will know all about that. Make a full disclosure of the intended usage, and discuss minimum qualification for any prospective renter. I suggest you go to them direct and NOT via any of the numerous brokers advertising in the press most of whom in turn subcontract it to Haywards.
If you end up with about 4 or less regular renters, and don't want any more, then a "named pilots" policy will be a lot cheaper.
If you own the plane personally, and somebody wrecks somebody's house with it, then you are personally liable (jointly) and if for some reason the insurer does not pay up, you are well stuffed! In this case, limited company ownership is worth considering; the separation thus achieved also helps with VAT issues. There are other matters to consider, too many to detail here now.
Regarding pilot qualification, the insurer may require you to verify any renter's qualification. As a minimum this would be license and logbook inspection, which some people are likely to resent (I speak from experience on this one, obviously if you get that attitude then they need to go elsewhere) but most likely you may want/need to do a check flight, or perhaps many check flights, and consider the possibility that some people who are presently friends of yours may not qualify...
As to whether you want others to fly your plane, that's for you to consider. Be extremely selective!!