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Hi Darren,I don't believe that there are many families who would want to rent a 6 to 9 bed house. Personally, I am not a fan of large properties for holiday lets as they can attract party people such as hen and stag nights, and these properties tend to experience a lot more damage as a result.As to the occupancy levels of such a property, I am not sure why it would work better as a holiday let or SA than a guest house? There is little difference and most businesses enjoying a high occupancy rate continue on, and don't sell up. I also don't like the idea of complete strangers sharing a property. There are risks of theft, and other issues such as a guest coming back to the property drunk late at night and intimidating other guests.This actually happens in HMOs when people are living together permanently and know each other to some degree, so I believe the risks are amplified when strangers/temporary residents are involved.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I meant keeping the rooms separate with their own locks and en-suite and renting on a room by room basis, like a small hotel.
I understood that, but my comments still stand. There is no reception and therefore very little security imho. There is nothing to stop someone renting one room and then bringing ten friends back to party into the night.Some things sound great in theory, but the devil is always in the detail. I always err on the side of caution as I am a very low risk investor. If you have a higher risk threshold, then it might be something that works for you and at least you are aware of the potential risks, so going in with your eyes open and perhaps with some protocols in place to minimise them?
I can see where you are coming from having lived in an HMO before, however the same risk still applies to a guest house. I was trying to look at options that might offer a little more scale than buying 1 house. Intent would be to be involved in the business day-to-day. Further research needed I think.
New research has identified that holiday let guests prioritise the following:> Sea view> Close to beach> Good internet> Hot tubFull/source article
Big banks are swooping to offer mortgages for holiday lets in the UK, amid a Brexit-related boom in staycations and a tax crackdown on buy-to-let landlords. Holiday rentals are expected to generate more than £2.2bn this year, with mortgage experts reporting a rise in the number of owners boosting their incomes.About 165,000 properties are listed as holiday lets, but this number is expected to soar because of the increased demand from British families holidaying on these shores.Full/source article
A holiday lettings company says it’s seen a 23 per cent increase in its portfolio over the past year as owners switch from buy to let to cash in on the staycation craze as a result of taxation changes and other issues.Full/source article