Holiday Let

scavinge

Member
Location
kent downs
At 3000 sq ft that's definitely 2 properties, with 2 beds +ensuites. I'm doing a barn conversion for myself and its roughly 1200sq ft and its generously big inside over 2 floors with openplan downstairs.
You haven't said where you are as location does matter for what you can charge too.
My self-catering cottage is roughly about 1100sq ft and sleeps 4 in 2 beds with en-suite. Its Wales 5* graded and I think its worthwhile getting something like that recognition as it shows a decency standard. It allows me to charge a good inclusive rate and not to worry about a couple of quid if they whack the heating up or break stuff. I'm with HolidayCottages and have found that occupancy soared taking my t/o from about 10-12k pa to 20k last year (after their fees). I know it was a strange year last year but I lost 10k of bookings during the 1st lockdown that had already been booked and still managed another 10k the times we were allowed to open. Needless to say I'm fully booked until late November this year...
I appeal to walkers and dog owners, so ensure they're well catered for. In that way the type of guests I get are generally very respectful of the property and I rarely have any issues. I get more dogs staying than humans and if I get 3 kids in the year, that's a lot. Again, families with kids have different expectations and imho tend not to be quite so clean. The cottage has it's own small garden and the guests have access to a secure paddock for dog exercising etc.
As previously said, you're offering a service so unless you want to do AirBnB, which I think is much harder work, people expect a Friday or Saturday changeover day. 6 hours in between should be ample to get a home ready for new visitors and grounds work can be completed on other days if necessary (esp if its wet on the day). I have an electronic code lock (saves people going off with keys) that can be controlled remotely and I also sometimes never ever see some guests if I'm away, like I am now.
If you're doing a barn conversion, you should be able to claim the VAT back on materials etc once its signed off. I haven't totted up recently but I expect I will spend about £75k to move in. That includes quite a lot of blockwork, a new (insulated) floor and a new roof that extends the length of the barn (I'm not converting all). I have done a lot of the labour myself too as I was furloughed last year, so probably saved £25k in that at least.

Interesting reading I am hoping to AirBNB and retain some control when mine is complete. Talking about VAT, I am doing a three bed self build holiday let near to the farm and as i understand it you can only claim the VAT back if you live in the property afterwards. HMRC are likley to want the VAT back if they realise i am not living in it. Self build for letting seems to be caught in a tricky unjust situation with the VAT.
I am keeping it separate from the farm business so I don't have to charge VAT when letting, but paying the VAT on the build which is currently 75% complete is killing me financally. Tempted to move in for a few years to reclaim the VAT but personal circumstances makes that a difficult prospect.
 

Puff

Member
Interesting reading I am hoping to AirBNB and retain some control when mine is complete. Talking about VAT, I am doing a three bed self build holiday let near to the farm and as i understand it you can only claim the VAT back if you live in the property afterwards. HMRC are likley to want the VAT back if they realise i am not living in it. Self build for letting seems to be caught in a tricky unjust situation with the VAT.
I am keeping it separate from the farm business so I don't have to charge VAT when letting, but paying the VAT on the build which is currently 75% complete is killing me financally. Tempted to move in for a few years to reclaim the VAT but personal circumstances makes that a difficult prospect.

Ah, not something I was aware of, so thank you for bringing it to my attention. PP is for a holiday let but after all the effort/hard work to make it happen, damned if I'm going to continue to live in my draughty old house whilst others enjoy it. I will be renting that out instead. Obviously now have to be careful with VAT and will check that out as probably need a small loan to finish and was going to pay that off out of the VAT reclaim.
 

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Red Tractor drops launch of green farming scheme amid anger from farmers

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As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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