Are Holiday Lets a Good Investment in the UK?

Everybody needs some time off every once in a while. The stress related to working, studying and having to fulfil other responsibilities throughout the entire year can get to even the toughest specimens. What better way to recharge your batteries than a relaxing getaway to a quiet, secluded area surrounded by nature?

Couple that with actually owning your holiday home, and you’ve got the recipe for the perfect way to spend your time off work. What should you do with your Alpine property or beach house for the remainder of the year, when you’re back to the old, boring day-to-day reality?

One thing you could do is to let your house to tourists for the rest of the holiday season and try to find a more permanent tenant for the other months in the year. Holiday lettings have become extremely popular recently, and homeowners are more than willing to let their property to strangers for short-term stays. It’s a great way to generate some passive income on the side in these demanding times.

Are you wondering whether you should list your property for holiday letting? This article will show you how to do it, and what criteria your vacation rental should meet to maximize your profits.

Where Do I List My Property?

There are many ways in which you can list your vacation home for letting. You may go with Airbnb or a similar application, but you could also go for a basic Internet listing and maybe even put a “For Rent” sign on your lawn. You may also be able to get a seasonal rental management company to take care of the listing and details for you.

The best method would depend on how much time you are willing to invest in your vacation home and how much experience you have in property management. Be sure to get the right valuation so you know how much your property is worth.

Deciding on rentals is an important decision, especially where a property is going to be vacant for long periods. It is very important that you get the best renters you can get because letting out your vacation home is not like hitting a light switch when someone wants to rent it. You may start out with the best of intentions, but things can go south if you have a bad group of renters.

Once again, there are many different ways in which you can let out your vacation home:

• Rent your property yourself or through an ad or real estate agent,
• Rent your home through a rental management company or direct booker companies such as HomeAway, VRBO etc.,
• Approach an auction site such as eBay that allows people to bid on properties they want to rent,
• Turn over leasing rights completely to a rental management company while you sit back and collect high rental income when there is a demand for their property,
• List through a third-party mobile application such as Airbnb.

What Makes a Good Holiday Let?

There are a lot of factors that can make your vacation home a very profitable holiday let. From the property’s size to its location, there are considerations in making your vacation home profitable. It is nevertheless a good idea to consider how much you have to spend on things such as renovations and repairs. For those who don’t have enough money, it would be better to select a property that’s already in good condition.

Apart from the property’s look, it is also important to have a better understanding of the general neighbourhood. It can help you determine if the neighbourhood is appropriate for tourists or not. Most of the areas with a bad reputation are always avoided by tourists. Nevertheless, you can still ask about the place by inquiring from some of the neighbours who have nothing to do with the tourism industry.

Considering these tips can help you find your ideal vacation home for a holiday let investment. So, always remember to make an informed decision and invest in a proper location that can give you more value for money.

The Bottom Line

Regardless of whether you already own a holiday home or want to invest in one for the sole purpose of renting it out to other people during the season, there are a lot of things you need to pay attention to. The location and state of the property are of the utmost importance, but it is also crucial to acquaint yourself with the neighbourhood and the surrounding community. Locals aren’t really fond of landowners who treat their hometown as nothing more than a cash cow, so if you’re serious about investing in a holiday let, one of your priorities should be getting friendly with them.

Finally, think carefully about how you’re going to go about listing your vacation home. There are plenty of ways to do that, but not all of them work well with every property. If you’re taking the online route, consider the reputations of each particular platform. When enlisting the services of a real estate agent, make sure they are an honest individual with a proven record.