How much
Member
- Location
- North East
when I have looked at letting a house I own in admittedly marginal tourist area , the agent told me it would be booked 50% of the year and that the rate would be so many pounds , they neglected to mention off season discounts etc initially
I thought from a cold start , I would be lucky to get 40% occupancy and that 30 to 35% would be a safe place to calculate from I planned on using an agent initially working toward running our own letting over a period of 3 years , I worked my cost backward taking off all cost insurance, enresgy , rates , fees etc . The make of break was the cleaning cost , I didn't want to spend the changeover days cleaning and washing but that cost made if marginal at best.
As has been said you have to have good fixtures and fitting , hand me down mis-matched furniture wont cut it these days and that furnishing cost knocked it on the head for me , i could not justify spending £4K on the furniture to try it , compared to just letting the property on an assured short term tenancy un furnished
For me that worked out much better , the headline weekly cost of holiday lets looks good but taking off all the cost and some empty weeks soon eats into it.
It will depend where you are as to what the viability is, planning for holiday lets is probably much easier to get , but these days the planners seem much more lax then they did , and to change from holiday lets to assured short term tenancy either through official or un-official channels would not seem overly difficult to do .
Again as has been mentioned , the customer is king , they expect to be looked after and problems fixed , the nearer you are to them potentially the more demanding they can be but for the right "People person" this can work in you favour with great reviews and more booking , if you do just simple things like recommend a dog walk , or a running route for insistence.
I thought from a cold start , I would be lucky to get 40% occupancy and that 30 to 35% would be a safe place to calculate from I planned on using an agent initially working toward running our own letting over a period of 3 years , I worked my cost backward taking off all cost insurance, enresgy , rates , fees etc . The make of break was the cleaning cost , I didn't want to spend the changeover days cleaning and washing but that cost made if marginal at best.
As has been said you have to have good fixtures and fitting , hand me down mis-matched furniture wont cut it these days and that furnishing cost knocked it on the head for me , i could not justify spending £4K on the furniture to try it , compared to just letting the property on an assured short term tenancy un furnished
For me that worked out much better , the headline weekly cost of holiday lets looks good but taking off all the cost and some empty weeks soon eats into it.
It will depend where you are as to what the viability is, planning for holiday lets is probably much easier to get , but these days the planners seem much more lax then they did , and to change from holiday lets to assured short term tenancy either through official or un-official channels would not seem overly difficult to do .
Again as has been mentioned , the customer is king , they expect to be looked after and problems fixed , the nearer you are to them potentially the more demanding they can be but for the right "People person" this can work in you favour with great reviews and more booking , if you do just simple things like recommend a dog walk , or a running route for insistence.