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  • Holiday Lets

    Guide to sourcing & setting up a holiday let



    Holiday lets are a very attractive investment to those wishing to diversify their portfolio. They are not affected by Section 24 and they can deliver a healthy yield and often do well with capital appreciation as well, due to the locations of them often being sought after.

    See - Holiday let - why ever portfolio should have one. 

              Why holiday lets are the new BTL

    I thought I would put together all our resources for setting up a holiday let.

    Sourcing a holiday let investment

    Guide to coastal property for investment

    Top 5 sign posts to a holiday let with year round occupancy potential.  

    Holiday lets - do they work as a business model?

    Is my area suitable for holiday lets 

    Cheaper or dearer area for holiday let? 

    Best place to buy first holiday let? 

    Top 10 seaside BTL hotspots by rental yield.

    Potential yield from holiday lets if I buy £400k of property 

    established let vs newly created 

    Financing a holiday let

    Holiday lets require a specialised holiday let mortgage. These are fairly limited and tend to be lower LTV than single occupancy BTL.  Expect to put in around a 40% deposit.  Property Tribes Financial Services have access to all the HL mortgage products on the market and can be contacted on 01206 654444.

    Insuring a holiday let

    Holiday lets require specialised insurance.  Our insurance partner Alan Boswell Group provide this kind of insurance and can be contacted on 01603 649736.

    Setting it up ready to rent

    Format for welcome packs / info packs 

    Beds & mattresses for holiday lets 

    Bunk beds 

    Questions regarding first holiday let



    Cost of furnishing Holiday Let 

    How important is art in a holiday let? 

    Dining table or not ?

    An ageing market & how to make our accommodation appeal to them 

    How important is art in a holiday let? 

    10 ways to increase your property's kerb appeal - external link

    You can contact our furniture partner, Fusion Furniture Solutions on on 01565 849261 for all your furniture pack needs.

    Marketing 

    Are you leveraging "anticipation happiness" in your property marketing?

    5 tips to increase occupancy of your holiday cottage. 

    Advertising on holiday let portals 

    Allowing dogs in holiday lets-yes or no 

    Creating "purple cows" in holiday lets 

    Availability & Booking Systems for Own Website 

    Holiday let marketing 

    10 tips to get more bookings for your holiday let 

    How I secured 52 weeks bookings for my holiday ... 

    8 tips for marketing holiday lets to a global audience.​ 

    Marketing holiday lets using social media .... 

    Converting enquiries for your holiday let 

    Photographing holiday lets - how to do it ... 

    Promoting a holiday let - importance of English Tourist Board rating?

    Management 

    How to deal with unhappy guest  

    Replying to Reviews

    When the sun doesn't shine 

    Contract for holiday lets 

    Managing remotely 

    Holiday lets myths .... BUSTED!

    Housekeeping

    Housekeeping - how often to change bed linen?

    Tax 

    Who Knew - Tax Relief for Holiday Let Owners? 

    Are Holiday Lets The Next Big Thing? 

    FHL and Capital Allowances

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    Thanks for so much useful info Vanessa.

    I'm just looking to get into property investment and would love to hear your thoughts on how best to maximise ROI (cap app and yield) on a property roughly 300k - 350k purchase price, putting down 100k deposit.

    Holiday lets are certainly something i'm interested in but I only really have my eye on one small location in Cornwall so far. I've seen you've written some really useful guidance on how to identify a good area to invest in but i'd love to hear your top 3 or 4 areas within Cornwall/Devon/Dartmouth/etc.

    Cheers

    George

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    Hi George,

    Glad you have found the info. useful.

    I wouldn't recommend starting out with holiday lets unless you have significant other income to support them if there are no bookings.

    I generally advise people to start of with a low risk single occupancy BTL and build a solid cash flow before diversifying.

    I cannot comment on the areas you mention, other than to say that I believe they are very seasonal.  They will be rammed June, July, August, but there is very little Winter occupancy from what I know.

    This is why I recommend the South Coast within 1 to 2 hours drive of central London.  You can pick up the wealthy London "long weekenders" market who take short breaks to the coast all year round.

    Most people won't want to drive 5 to 6 hours to have a weekend in Cornwall.  They will only drive those distances for a week minimum imho.

    ​Hope that helps?

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    Thanks for a great thread Vanessa, I'm working my way through all the resources and learning a lot.

    I'm thinking about using a flat I've bought in a nearly completed development as a holiday let.  It actually doesn't fit one of the most desirable criteria in that it's not near a beach.

    It's in Liverpool (L3), is absolute waterfront, is large and has 2 bedrooms, 2 bathrooms and a balcony.  The curtain walling (walls) is all glass so the views across the Mersey are fantastic.

    Liverpool gets a lot of European 'staycation' visitors, who come for the shopping and especially the football, and it's also popular with the domestic market for shopping and cultural activities.  It has a great year round program of events.

    Lots of research to do, but it's great to have this guide to help me decide if using it as a holiday let is feasible and/or desirable.

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    Just adding:

    ​Second home owners, whose properties are available to rent as holiday lets for 140 days of the year, often qualify as small businesses, and are entitled to relief on 100% of the business rates payable if their properties have a rateable value of less than £12,000.

    Those whose properties have a rateable value between £12,000 and £15,000 are also entitled to relief on a sliding scale, in line with the Government’s small businesses rates relief policy.

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