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  • Holiday Lets

    The tide is in for U.K. holiday lets



    As the summer approaches, and we start enjoying the Bank Holidays and warmer weather, its the perfect time to talk, once again, about the benefits of owning a UK holiday let.

    Nick and I recognised what we called "the renaissance of the great British seaside holiday" a decade ago, and UK holidays lets have been coming into their own since then, and standards of accommodation have increased dramatically.

    That has largely been driven by desire to holiday at home increasing due to a number of factors discussed in the link above, the rise of the "stay-cation", the regeneration of our coastline, and the improving diversity and sophistication of what it offers.

    Holiday lets are also very attractive from a tax perspective, being unaffected by Section 24.

    We met up with William Thomson, author and founder of TidalCompass who has been creating awareness of the British coast through his books and "Coast" magazine column and his events, to hear his perspective on why the British seaside is becoming increasingly popular:


    In the second interview below, you can learn more about William's entrepreneurial & business journey and there is also this article from the Telegraph:  Mapping the tides of the British coastline - with my family in tow - which explains how Will developed a "digital nomad" business.

    This is something which many people (including myself and Nick) invest in property to achieve.  



    Heads up!  This summer, Property Tribes will be running "Holiday Lets Week", turning our spotlight onto holiday lets and looking at such issues as tax, finance, marketing, and managing, so watch out for that!

    SEE ALSO  -          Holiday let - every portfolio should have one

    UP NEXT -              Key trends in the holiday lets sector

    DON'T MISS -         Guide to sourcing & setting up a holiday let

    NOW WATCH:

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    Thanks for this, Vanessa. An enjoyable article.

    One related issue - an interesting trick being used in Scotland, given that there is now no minimum tenancy length, is that there is no incentive to prevent T giving 28 days notice on Day 1 of a tenancy. Clearly a Scottish Government cockup; even the SNP would not intend that.

    That gives a month of holiday let for perhaps £600-£800.

    Quids in, and something we need to see if we can get a sensible version on in England.

    How to keep holiday letters out of your normal rentals? Perhaps big long forms and guarantors, or unfurnished lets.

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