Brighton Getaways Posted January 13, 2016 Report Share Posted January 13, 2016 Hello, New to the forum. I have a number of AST rental properties I am currently managing but I am looking to move into the short-term letting and holiday home market as a feel the yield for these properties is greater than longer term rentals. Does anyone have experience in this transition? Or any experience in short-term / holiday letting in regards to longer rentals? All my business is primarily Brighton and Hove based so plenty of rental opportunities. Any advice or information would be appreciated. Kind Regards. Link to comment Share on other sites More sharing options...
Richlist Posted January 13, 2016 Report Share Posted January 13, 2016 I have 3 comments. 1. Not all mortgage lenders permit this type of letting. 2. Holidaymakers renting a fully furnished holiday let generally have a high expectation of the features, facilities and equipment supplied. They will want much more than with a standard long term tenancy. 3. Holiday let's, due to the high turn over of people, will create much more wear and tear on furnishings and equipment. Life expectancy of the contents will be much less than can be expected from a standard AST. Good luck Link to comment Share on other sites More sharing options...
kerbut Posted January 13, 2016 Report Share Posted January 13, 2016 Yes, into our second season this year (this will be our first full year as we started last Whitsun ) we use an agent do do bookings supply cleaners, supply bed linen and towels and empty the bins , so far we have 16 weeks booked for 2016 . Edit to add, We have have had the property classed as business rates and as the property is below some threshold (which I dont understand ) we have just had a 100 % rebate and do not have to pay rates whilst its still a holiday let ,but I understand that you can only do this on one property. Link to comment Share on other sites More sharing options...
Grampa Posted January 13, 2016 Report Share Posted January 13, 2016 I have talked about doing this also as a add on to my business. But decided it was too much agro after much thought. I have also be told by a company who does do it, it takes a number of years to build up full occupancy in the summer months for new properties into that market. I also know that the demand for winter lets is a lot less these days. I did a numbers excise for my own house comparing summer let against long term residential and there wasn't much it. Link to comment Share on other sites More sharing options...
kerbut Posted January 13, 2016 Report Share Posted January 13, 2016 Hopefully we will get 20 + weeks and as our peak weeks @ £1250 pw are all booked for this year , we are very pleased , we are not interested in winter lettings as that involves electricity and gas use ,the rate when you take the commission out of it is not worth it , but we have one booking for half term in February , we would be happy with April until October lettings. Link to comment Share on other sites More sharing options...
Mortitia Posted January 14, 2016 Report Share Posted January 14, 2016 Holiday letting is labour intensive and you need to be highly organised to maximum 5 * reviews to sell the idea of your let but the rewards are higher and there is less wear on the property. Choose one of your lets and put it on Airbnb for a while and see how you go. Don't forget it has to be fully furnished with linen and have a fully functioning kitchen with appliances. Using an agency cuts into your profits sharply and using staff to do laundry and cleaning likewise. Link to comment Share on other sites More sharing options...
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